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Family owned Fiat Chrysler, LVMH move on multi-billion dollar mergers

October 31, 2019

European family business titans Fiat Chrysler and LVMH look to consolidate their dominance in their automaking and luxury goods markets in an uncertain world by eyeing multi-billion dollar mergers.

European family business titans Fiat Chrysler and LVMH look to consolidate their dominance in their automaking and luxury goods markets in an uncertain world by eyeing multi-billion dollar mergers.

The Italian Agnelli family, which controls Fiat Chrysler through its holding company Exor, was expected to approve the proposed $48 billion union with Peugeot-owner PSA, itself 12.2% owned by the French Peugeot family.

FB Roundup: Richterich, Rinehart, and Zhao

May 8, 2019

Succession transition sets up Ricola for the future, Gina Rinehart’s family feud to stay private, and billionaire Zhao family embroiled in US college admissions scandal.

Succession transition sets up Ricola for the future

The principal of Swiss herbal product manufacturer Ricola has relinquished daily duties to a non-family director while his son steps up onto the board of directors.

Felix Richterich, 60, remained as chairman with a focus on strategy from 1 May after seven years as both chairman and chief executive. The grandson of founder Emil Richterich managed the Laufen-based company for 27 years.

Succession planning in boards’ hands in top family businesses, report finds

November 12, 2015

The bulk of successful family businesses place responsibility for succession planning with the board of directors, according to a new report, with shareholder councils and the chief executive the next most popular options.

Preparing or procrastinating?, released by EY, also found that boards of directors are more likely to prioritise next generation education and preparation.

Australian family firms failing to prepare for succession

September 23, 2013

Two thirds of Australian family businesses do not have a succession plan in place despite the majority of family chief executives being over the age of 50 and nearly 20% being over the age of 65, according to a KPMG and Family Business Australia survey.

Seventy-two per cent of family businesses listed balancing family and business issues as the primary challenge for their family firm, and 67% said maintaining family ownership was a primary concern.