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Succession

February 9, 2017

Third-generation Saputo to succeed founding father; Slim and Servitje subsidiaries to launch ‘made-in-Mexico’ e-cars; Tata removes Mistry, set to install Chandrasekaran 

Third-generation Saputo to succeed founding father
Lino Saputo Jr is to succeed his father, Emanuele (Lino), as chairman of his family’s eponymously named dairy company - one of the top ten dairy processors in the world.

Currently chief executive and vice chairman, third-generation Saputo Jr will replace the founding chairman from 1 August and also retain his responsibilities as chief executive.

February 2, 2017

Family business principals are being urged to start a formal succession plan early as less than a third of high-net worth Americans and Britons admit they have a plan in place to transfer wealth to their next generation.

Family business principals are being urged to start a formal succession plan early as less than a third of high-net worth Americans and Britons admit they have a plan in place to transfer wealth to their next generation.

However, high-net worth Britons were ahead of their American and Canadian peers in boosting their financial literacy, integral for succession planning. Greater preparedness was directly linked to greater confidence among parents their children will preserve the family fortune.

October 27, 2016

Almost all family businesses confess they are operating without a strategy for succession, despite knowing full well the issue of generational transition is looming, new research claims.

Almost all family businesses confess they are operating without a strategy for succession, despite knowing full well the issue of generational transition is looming, new research claims.

A remarkable 97% of family business owners surveyed complained of a lack of direction and purpose for their business and 95% admitted the challenges of achieving a work-life balance contributed to the lack of succession planning.

October 26, 2016

Why appoint family members as directors when the pool of excellent, qualified, independent executives numbers in the thousands?

Why appoint family members as directors when the pool of excellent, qualified, independent executives numbers in the thousands?

The Fourth of July is a US national carnival unlike any other – celebrating the anniversary of the signing of the Declaration of Independence in 1776.

September 20, 2016

Experience in managing successful successions in family businesses will increase in value as ultra-high net worth individuals worldwide transfer more than $3.9 trillion between generations over the next decade.

Experience in managing successful successions in family businesses will increase in value as ultra-high net worth individuals worldwide transfer more than $3.9 trillion between generations over the next decade.

The new Global Family Office Report by Campden Wealth, in partnership with UBS, revealed 43% of family offices expected a generational transition within the next 10 years, rising to 69% in the next 15 years.

August 19, 2016

Giorgio Armani would do well to consider motivation, guidelines and accountability when setting up a foundation to control his €2.64 billion ($2.9 billion) empire.

Giorgio Armani would do well to consider motivation, guidelines and accountability when setting up a foundation to control his €2.64 billion ($2.9 billion) empire.

This is the advice from the UK family office team of professional services network KPMG when CampdenFB asked what succession plans they would recommend to the Italian fashion designer.

June 3, 2016

Middle Eastern family businesses facing the challenges of planning succession are set to benefit from the region’s first bilingual governance code.

Middle Eastern family businesses facing the challenges of planning succession are set to benefit from the region’s first bilingual governance code.

The voluntary guide is aimed at large businesses that are going through either first, second, or third generation transitions.

It is a response by the Family Business Council-Gulf (FBCG), the regional association of Family Business Network, to the growing issue of succession in the six countries within the Gulf Co-operation Council (GCC).

May 25, 2016

PricewaterHouseCoopers (PwC) has set up an Asia-Pacific family business hub in Singapore, the island city-state where 89% of family businesses do not have a succession plan.

PricewaterHouseCoopers (PwC) has set up an Asia-Pacific family business hub in Singapore, the island city-state where 89% of family businesses do not have a succession plan.

Sian Steele, PwC UK family business leader who helped established the centre, said issues facing family businesses are universal.

However, Asia Pacific family business owners do not have the networking, communication, and support as developed in mature markets when they confront transition issues from first to second and second to third ownerships, Steele said.

May 12, 2016

The case of US billionaire Sumner Redstone highlights tensions when the mental capacity of business leaders is questioned.

The case of US billionaire Sumner Redstone highlights tensions when the mental capacity of business leaders is questioned.

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