Share |

appointments

FB Roundup: Liliane Bettencourt, Maersk, and Chinese succession

September 22, 2017

L’Oreal heiress Liliane Bettencourt dies at 94, Maersk ships off its tanker business for $1.17 billion, and Chinese next-gens reluctant to take the reins.

L’Oreal heiress Liliane Bettencourt dies at 94

Liliane Bettencourt, the heiress to the L’Oreal cosmetics fortune and the world’s richest woman, has died at home in Paris, aged 94.

Bettencourt, whose net worth was estimated at $39.5 billion, was the daughter of Eugène Schueller, who made a fortune as the inventor of modern hair dye and founder of L’Oreal.

Bettencourt was said to have adored her father, whose company she inherited on his death in 1957, her mother having died when she was five.

FB Roundup: Lotte, Kraft Heinz, and Sir Pat Goodman

September 15, 2017

Lotte to sell stores over Chinese missile defence sanctions; youngest-ever chief financial officer steps up at Kraft Heinz; and NZ philanthropist and businessman dies.

Lotte to sell stores over Chinese missile defence sanctions

South Korean chaebol Lotte is to start selling its Chinese supermarkets, after Beijing hit it with unofficial sanctions related to the nuclear arms tensions on the Korean peninsula.

Long-serving Soros employee becomes family office’s new CIO

January 13, 2016

One of the world’s most successful hedge funds turned family office, Soros Fund Management, has promoted Ted Burdick as chief investment officer (CIO) five months after its top investor Scott Bessent left the family firm to launch his own $4.5-billion macro fund.

Formerly the head of distressed debt and arbitrage, Burdick’s promotion will make him the fund’s sixth CIO since 2000 – and the third to be recruited internally.

Family business round up: Banyan Tree, International Hospital Group, Volkswagen

January 11, 2016

A next gen is appointed at resort and spa group Banyan Tree; International Hospital Group announces a partnership in China; and Volkswagen's Martin Winterkorn continues to take home a large pay packet.

Banyan Holdings
After taking a break from the family business to set up her own company, Ho Ren Yung, daughter of Banyan Tree Holding’s founder and executive chairman Ho Kwon Ping, has been appointed director of the company’s group retail operations.

Listed in Singapore, the luxury resort group began as a boutique hotel in Thailand and has grown into an international hospitality brand with over 150 resorts, spas and retail galleries worldwide.

Second gen appointed CEO at Australia’s Seven Group

April 17, 2015

Shares in family-controlled Australian business Seven Group Holdings dropped over 5% on the news second-gen Ryan Stokes would be taking over as chief executive and managing director in August.

Shares in family-controlled Australian business Seven Group Holdings dropped over 5% on the news second-gen Ryan Stokes would be taking over as chief executive and managing director in August.

Existing non-family executive Don Voelte had been part of the holding group for seven years, and chief executive since 2013, but said he wanted to dedicate more time to his family in the US.

Seven Group has interests in the media, mining and construction industries, and last year had revenues of AU$3.1 billion.

Family member becomes chairman of Pentland Brands

December 9, 2014

Pentland Group third-gen Andy Rubin has been promoted to chairman of the family business’s division, responsible for a stable of fashion brands, including Speedo, Boxfresh and Canterbury.

Pentland Group third-gen Andy Rubin has been promoted to chairman of the family business’s division, responsible for a stable of fashion brands, including Speedo, Boxfresh and Canterbury.

Rubin is set to take on the newly created role at Pentland Brands in January, with the current chief operating officer, Andy Long, stepping in to take over as chief executive.

Long has been at Pentland Brands for nine years, following roles at Procter & Gamble and Boots, while Rubin has been in the family business for 23 years.

Pinault family office head to lead Christie’s auction house

December 3, 2014

The French businesswoman who has headed the Pinault family’s investments for the last 25 years has been appointed chief executive of auction house Christie’s, which is wholly owned by the family.

The French businesswoman who has headed the Pinault family’s investments for the last 25 years has been appointed chief executive of auction house Christie’s, which is wholly owned by the family.

Patricia Barbizet will replace Steven Murphy as chief executive, following his surprise departure announced this week by Christie’s and effective from the year’s end.

Four sisters’ promotions at Apollo Hospitals signal growth plans

July 15, 2014

Apollo Hospital Group’s promotion of four second-generation sisters to key executive roles signals the family business is preparing for entrepreneurial activities, a family business academic says.

Apollo Hospital Group’s promotion of four second-generation sisters to key executive roles signals the family business is preparing for entrepreneurial activities, a family business academic says.

This month, Dr Prathap Reddy, 80, founder and chairman of the Indian healthcare giant, announced Preetha Reddy, 56, already anointed his heir apparent, would have expanded duties under her new role as executive vice-chairwoman.