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Korean automaker signs deal to control construction giant

January 14, 2011

The decade-long feud in one of South Korea’s richest families has taken another turn, as Hyundai Motor signed a preliminary agreement to control the country’s largest builder, pushing out rival bidder the Hyundai Group.

Billionaire founder of Zara to retire

January 12, 2011

Amancia Ortego, the billionaire founder of Spain-based Inditex Group, owner of clothing brand Zara, plans to retire as chairman of the company he started 25 years ago, leading to speculation that his daughter might be the eventual heir apparent.

He will be replaced by non-family member Pablo Isla, the current chief executive and chairman, but some insiders reckon that his youngest daughter, Marta Ortego Perez, will eventually take control of Inditex.

Former chairman and CEO of Tyson Foods passes away

January 7, 2011

Donald John Tyson, the man who took family-controlled Tyson Foods from a small chicken company to a food processing enterprise, passed away on 6 January at the age of 80.

Known to his close associates as "Don", Tyson became the second-generation chairman and CEO of Tyson Foods in 1967 after the death of his father, founder John W Tyson. He remained chairman until 1995 when he retired, but continued to serve as a consultant for the company.

Ross Warburton named chairman of Institute for Family Business

January 5, 2011

Ross Warburton, a fifth-generation family member of the UK bakery company Warburtons, has been appointed the new chairman of the Institute for Family Business.

He replaces Andrew Wates, of the Wates Group, who has been chairman for the last three years.

Nayla Hayek elected as Swatch chairwoman

July 5, 2010

Nayla Hayek has succeeded her father Nicolas Hayek, chairman of the Swatch Group, following his death last week. The appointment of Nayla, 59, as chairwoman of the Board of Directors caps a meteoric rise following her promotion to the position of vice-president in May 2010.

Nayla Hayek has succeeded her father Nicolas Hayek, chairman of the Swatch Group, following his death last week. (Continue reading here)

The appointment of Nayla, 59, as chairwoman of the board of directors caps a meteoric rise following her promotion to the position of vice-president in May 2010.

Family chairman announces retirement

June 1, 2010

Oscar Lopez, the family head of the First Philippine Holdings Corp, announced today he is to step down as chairman and CEO of the family holding company, to be replaced by his son.

Oscar Lopez, the family head of the First Philippine Holdings Corp, announced today he is to step down as chairman and CEO of the family holding company, to be replaced by his son.

Lopez (pictured), 79, who led the company for nearly 25 years, said: "I think that the time is right to step down from the CEO-ship of our company." He will however remain involved as the company's chairman emeritus and group chief strategic officer.

Agnelli heir elected as Fiat chairman

April 21, 2010

John Elkann, fifth-generation family member of the founding Fiat family, has been elected as chairman of the Fiat Group. The 34-year-old told reporters that today was "a very important day for Fiat and me."

The formal announcement came this morning during Fiat's investor day, although non-family CEO Sergio Marchionne told a press conference yesterday of the schion's promotion.

Marcy Syms named as chairman of family business

January 15, 2010

Marcy Syms, second-generation CEO of the discount retail chain SYMS Corp, has been made chairman of the group, a role previously held by her father.

Sy Syms, company founder, died in November 2009 at the age of 83. (Click here to read our coverage of the story) Marcy has served as company president since 1983 and succeeded her father as CEO in 1998.

Patrick Ricard calls time on his career as Pernod Ricard CEO

November 7, 2008

Patrick Ricard has stepped down from his post as CEO of drinks giant Pernod Ricard after 30 years of running the family business.

Patrick Ricard has stepped down from his post as CEO of drinks giant Pernod Ricard after 30 years of running the family business. He will continue his role as chairman and “continue to be involved in the group’s strategic decisions and in monitoring their implementation,” according to a company statement.

This move is a result of the company’s previously announced decision to separate the roles of CEO and chairman. Non-family managing director Pierre Pringuet will take over as CEO.

Walter Kwok calls for an end to his family’s rule

July 28, 2008

The ousted chairman of family-owned Sun Hung Kai Properties has hit back at family members by saying the real estate company should look outside the family for more suitable leaders

The ousted chairman of family-owned Sun Hung Kai Properties has hit back at family members by saying the real estate company should look outside the family for more suitable leaders.

Walter Kwok, who was replaced by his mother following a disagreement with his two younger brothers in May, said, "Rather than key positions in the company being taken by the family, we should be more inclined to have the most suitable person fulfil the key positions."