diversity on boards

Cheuk Nang chair puts gay prejudice aside to promote daughter

August 8, 2014

An expert on inclusivity and diversity in business has praised the leadership of a father who, having openly rejected his daughter’s sexuality in the past, has now announced he would like her to succeed him at the helm of the family-controlled Hong Kong property empire.

This week, Cheuk Nang chairman Cecil Chao announced he wanted his daughter, Gigi, to become vice chairwoman of the family business, and would be taking his proposal to next month’s board meeting.

One in four US family businesses lacks board of directors, survey finds

June 6, 2013

More than a quarter of US family businesses questioned in a Deloitte survey do not have a board of directors, and of those that do, the majority lack diversity in terms of non-executives, non-family members and female representation.

The report, Perspectives on Family-Owned Businesses, also found succession planning was a large area of inactivity when it came to governance of family businesses.

Family firms less likely to fail, according to UK study

May 23, 2013

Family businesses are less likely to fail than their non-family counterparts due to low turnover and higher diversity on their boards of directors, a new study published by business schools at three British universities has revealed.

The research found 80% of family businesses have at least one female director, which had a positive impact on business success as more diverse boards were found to produce less conflict.