Joseph Charlton is a contributor to CampdenFB.
He is a graduate of Oxford University.
Financier Nat Rothschild has failed in his bid to replace the board of Bumi, the ill-fated FTSE 250 coalminer he co-founded in 2010 with Indonesia’s Bakrie family.
The legendary owner of the Los Angeles Lakers has died of kidney failure at the age of 80. Jerry Buss passed away on 18 February in a Los Angeles hospital, having battled cancer since 2012. In a statement, the Buss family said it would do everything it could to “honour his wish" to keep the Lakers in family hands.
It has been a week of mixed fortunes for family businesses, with Heineken and PPR riding high, Saputo treading water in its third quarter and Peugeot continuing to flounder.
Australia’s huge family business sector is being advised to hire more external board members, following a new partnership between lobby group Family Business Australia and consultants AMPLIFi Governance.
Two European family empires are making alterations to their share conditions this week. The Agnelli family’s Exor plans to switch preference and saving shares to ordinary ones, and L'Oreal is to spend €500 million buying back shares following a rise in net sales.