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Succession

October 10, 2014

Second gen Bob Fisher will become chairman of the clothing retailer Gap, which his parents founded more than 40 years ago, at the start of the next financial year.

Second gen Bob Fisher will become chairman of the clothing retailer Gap, which his parents founded more than 40 years ago, at the start of the next financial year.

The company announced on Friday that non-family chairman and chief executive Glenn Murphy, who has been at the helm since 2007, would be retiring next February.

Non-family member Art Peck, who joined the company a decade ago, will take over as chief executive, while Fisher, who joined the board in 1990, will become chairman.

September 11, 2014

Fourth generation Ana Botin has become the most powerful woman in European banking, following her unanimous appointment to the head of Banco Santander.

Fourth generation Ana Botin has become the most powerful woman in European banking, following her unanimous appointment to the head of Banco Santander.

The decision by the board of directors came less than 24 hours after the death of her father Emilio Botin, 79, who suffered a heart attack on Tuesday evening.

September 3, 2014

The last member of the family that owned US newspaper Washington Post for eight decades, before its sale to Amazon founder Jeff Bezos last year, is to step down as publisher of the former family business by the end of this month, the company has this week revealed.

The last member of the family that owned US newspaper Washington Post for eight decades, before its sale to Amazon founder Jeff Bezos last year, is to step down as publisher of the former family business by the end of this month, the company has this week revealed.

Katharine Weymouth had been part of the business, bought by her great-grandfather in 1933, for 17 years and had been in her current role as chief executive and publisher for seven years.

August 8, 2014

An expert on inclusivity and diversity in business has praised the leadership of a father who, having openly rejected his daughter’s sexuality in the past, has now announced he would like her to succeed him at the helm of the family-controlled Hong Kong property empire.

An expert on inclusivity and diversity in business has praised the leadership of a father who, having openly rejected his daughter’s sexuality in the past, has now announced he would like her to succeed him at the helm of the family-controlled Hong Kong property empire.

This week, Cheuk Nang chairman Cecil Chao announced he wanted his daughter, Gigi, to become vice chairwoman of the family business, and would be taking his proposal to next month’s board meeting.

August 6, 2014

Indian motorcycle manufacturer Hero MotoCorp, owned by the Munjal family, has elevated second-gen Pawan Munjal to the role of vice chairman, clarifying the family’s succession plans.

Indian motorcycle manufacturer Hero MotoCorp, owned by the Munjal family, has elevated second-gen Pawan Munjal to the role of vice chairman, clarifying the family’s succession plans.

The 59-year-old accepted the role at Hero MotoCorp this week – a move that many believe signals a forthcoming power shift wherein Pawan will soon succeed his father as chairman of the family business.

July 29, 2014

John Fellowes II has this month become the fourth generation to run his family’s eponymous office products company, following his father’s retirement.

John Fellowes II has this month become the fourth generation to run his family’s eponymous office products company, following his father’s retirement.

Based in Illinois, US, Fellowes Inc, started in 1917 as a supplier of office storage boxes, three years after the US passed legislation requiring businesses to keep written records for tax purposes.

July 18, 2014

A fourth-gen of George Weston Limited, the Canadian branch of the Weston family empire, has been promoted to the role of president at its supermarket subsidary Loblaws.

A fourth-gen of George Weston Limited, the Canadian branch of the Weston family empire, has been promoted to the role of president at its supermarket subsidary Loblaws.

Galen G Weston takes over from non-family predecessor Vicente Trius, who will return to Brazil for family reasons.

The Thursday reshuffle comes amid a string of acquisitions by the Weston family, who own 63% of Loblaws through George Weston Limited, including the $12.4 billion (€9.2 billion) acquisition of Shoppers Drug Mart this year.

June 23, 2014

The third-generation chief executive of Portugal’s largest listed bank, Banco Espirito Santo (BES), is set to stand down and be replaced by a non-family member.

The third-generation chief executive of Portugal’s largest listed bank, Banco Espirito Santo (BES), is set to stand down and be replaced by a non-family member. 

The 94-year-old bank’s announcement came shortly after a rights offering earlier this month that cost the Espirito Santo family their controlling stake in the Lisbon-based company.

The family had had a 54% stake, but this dropped to 46% after the €1 billion rights issue.

June 2, 2014

Malcolm Glazer’s long established estate succession plan for the two sports teams he owned will ensure they remain with the Glazer family for generations to come, the family has said in a statement.

Malcolm Glazer’s long established estate succession plan for the two sports teams he owned will ensure they remain with the Glazer family for generations to come, the family has said in a statement.

Malcolm Glazer, the US real estate mogul and owner of Manchester United and NFL team the Buccaneers, has died aged 85.

The Buccaneers made a statement on their website about the future of the team.

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