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Succession

May 23, 2014

A swift change of leadership at Mexican company Cemex following the sudden death of its fourth-generation chief executive and chairman last week highlights the importance of a solid corporate governance structure, says a family business expert.

A swift change of leadership at Mexican company Cemex following the sudden death of its fourth-generation chief executive and chairman last week highlights the importance of a solid corporate governance structure, says a family business expert.

Lorenzo Zambrano’s death from a heart attack in Madrid last Monday left directors with the task of replacing the man responsible for transforming Cemex’s regional operation into a global business.

May 6, 2014

When establishing succession arrangements business owners should always consider how such arrangements correspond with personal estate planning. One recent case, involving a family farm in Cambridgeshire, illustrates the importance of such considerations. 

When establishing succession arrangements business owners should always consider how such arrangements correspond with personal estate planning. One recent case, involving a family farm in Cambridgeshire, illustrates the importance of such considerations.

May 2, 2014

A change of leadership at Ford Motor Company has been accelerated six months and declared one of the smoothest in the family business’s history, according to the fourth-gen executive chairman.

A change of leadership at Ford Motor Company has been accelerated six months and declared one of the smoothest in the family business’s history, according to the fourth-gen executive chairman.

On Thursday, the US carmaker announced Alan Mulally, 68, who steered the company through the global financial downturn, would be stepping down as chief executive and president on 1 July.

Mark Fields, 53, who has been the company’s chief operating officer since December 2012, will replace him.

April 3, 2014

Up to three quarters of British family firms are putting off succession planning, despite listing it as one of the top challenges they face, says the chief executive and founder of a family business organisation, who says fear of retirement, mortality and upsetting family harmony are among the factors driving this inaction.

Up to three quarters of British family firms are putting off succession planning, despite listing it as one of the top challenges they face, says the chief executive and founder of a family business organisation, who says fear of retirement, mortality and upsetting family harmony are among the factors driving this inaction.

March 12, 2014

Family business leaders who think they “know best” and adopt a paternalistic leadership style can lead to unsuccessful succession transitions, according to new research, by leading to feelings of dissatisfaction and inertia in the next generation.

Family business leaders who think they “know best” and adopt a paternalistic leadership style can lead to unsuccessful succession transitions, according to new research, by leading to feelings of dissatisfaction and inertia in the next generation.

February 5, 2014

Bechtel Corporation, one of the largest family businesses in the US, is to appoint its first non-family chief executive and president, after fourth-geneneration Riley Bechtel announced he was stepping down due to health problems.

Bechtel Corporation, one of the largest family businesses in the US, is to appoint its first non-family chief executive and president, after fourth-geneneration Riley Bechtel announced he was stepping down due to health problems.

January 23, 2014

The second-gen managing director of Singapore property developer City Developments Limited has announced he will step down next month to take up the role of deputy chairman.

The second-gen managing director of Singapore property developer City Developments Limited has announced he will step down next month to take up the role of deputy chairman.

Kwek Leng Joo, 60, has held the post since 1995, but now Grant L Kelley, the first non-family member to head the executive management team, will become the company’s first chief executive.

City Developments Limited (CDL) is one of the largest private developers in Singapore, and saw revenues of $3.4 billion (€2.5 billion) in 2012.

November 28, 2013

Hong Kong-based real estate developer Wheelock & Co has appointed third-gen Douglas Woo, 35, to succeed his father, Peter Woo, 67, as chairman of the board.

Hong Kong-based real estate developer Wheelock & Co has appointed third-gen Douglas Woo, 35, to succeed his father, Peter Woo, 67, as chairman of the board.

Woo, who graduated in architecture from Princeton University, has only been a director on the board since July, when he was also appointed managing director of the company.

Wheelock & Co was founded in 1857, but has only been under the existing family’s ownership since 1985, when Woo’s maternal grandfather Yue-Kong Pao acquired it.

October 23, 2013

With many companies nearing the first-to-second generation transfer phase, Asian family businesses have been forced to learn the art of succession planning quickly. CampdenFB looks at what the region is doing to meet the challenge.  

With many companies nearing the first-to-second generation transfer phase, Asian family businesses have been forced to learn the art of succession planning quickly. 

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