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Italian family businesses

Under the Tuscan son: Lamberto Frescobaldi on balancing tradition with innovation

November 16, 2020

The 30th generation winemaker Marchese Lamberto Frescobaldi was raised on the stories of his eminent ancestors who have produced wine in Tuscany since the beginning of the 14th century. They were explorers, musicians, scholars, bankers and politicians, trading with European courts and supplying wine to royalty and the papacy, as the family archive reveals in documents dating back to the 1200s.

Heart and sole: James Ferragamo on legacy, fashion and the family business

May 16, 2017

Marilyn Monroe, Audrey Hepburn and Greta Garbo are among the Hollywood stars who helped immortalise Italian shoemaker Salvatore Ferragamo. Michael Finnigan talks to grandson James about legacy, fashion and the family business

Italian state lender to set up equity fund for family businesses

December 16, 2015

State-owned Italian bank Cassa Depositi e Prestiti (CDP) is to set up a private equity fund to help family businesses, but a family business expert questions to what degree it will achieve its aim of helping them go public.

The initiative is the first of many more planned by the CDP as part of its plans to invest in domestic companies and help boost the country’s economy.

The private equity fund is one of the pillars of the new business plan.

Family business confectioner Michele Ferrero dies, aged 89

February 16, 2015

Italian confectioner Michele Ferrero, who created Kinder eggs and Ferrero Rocher for his eponymous family business, died over the weekend, aged 89.

Italian confectioner Michele Ferrero, who created Kinder eggs and Ferrero Rocher for his eponymous family business, died over the weekend, aged 89.

The second gen passed away in Monaco, where he lived, on Valentine’s Day – one of the chocolate industry’s most important dates of the year. He had been suffering from illness for the past couple of months.

Although the business has been in the third generation for almost two decades, Ferrero was considered the main decision maker.

Women poorly represented on family business boards in Europe

December 16, 2014

Women make up only 16% of family business boards in Continental Europe’s four largest economies, and only 10% of boards in Germany, new research has revealed.

Women make up only 16% of family business boards in Continental Europe’s four largest economies, and only 10% of boards in Germany, new research has revealed.

The 2014 Survey of Corporate Governance Practices in European Family Businesses examined board composition, board efficiency, succession planning and chief executive/chairman demographics.

Indesit sale could be wake up call for Italy to support family businesses

July 17, 2014

Last week’s sale of kitchen appliance manufacturer Indesit, the latest in a long line of large Italian family businesses recently sold to foreigners, could be a wake up call for the government to make the country more business friendly, a family business academic says.

The Merloni family sold its controlling 60.4% stake in the company to US competitor Whirlpool for €758 million, bringing to an end four generations of family control. It was the largest producer of home appliances in Italy.

Italian family businesses reluctant to expand

July 9, 2014

The size of family business workforces is comparatively static to non-family companies even as revenues fluctuate, according to a new study.

The size of family business workforces is comparatively static to non-family companies even as revenues fluctuate, according to a new study.

Sales and employment changes in entrepreneurial ventures with family ownership,published in the Journal of Small Business Management, found technology-based family businesses in Italy were equally resistant to hiring new staff in times of growth as they were to laying of staff in troubled times.

Second gen promoted to top post as Italy embraces gender diversity

April 16, 2014

Emma Marcegaglia, co-chief executive of her family's eponymous steel company, has been appointed chairwoman of Italy's largest state-owned company, following a shake up of state-owned firms by Italy's new centre-left government to try and change the country's masculine corporate culture.

Marcegaglia, 49, dubbed "Italy's iron lady" in the press, landed the role at energy group Eni.

Female successors can improve family firm profits 8%

April 10, 2014

Female successors taking over from male CEOs have the potential to increase family business profitability, according to new research out of Italy, but their power is diminished – and may even have a negative impact on a company’s performance – in male-dominated workplaces.

The remarkable return of MV Agusta

March 14, 2014

When Giovanni Castiglioni's father died in 2010 he left a massive legacy - and the seemingly impossible job of turning round the legendary motorbike brand MV Agusta. In just three years, Giovanni has done it.