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Joachim Schwass

The Y factor: Millennials take on the family business

July 26, 2012

The digital natives of Generation Y are starting to work in their families’ businesses. And with their work ethic and understanding of social media, they’re already starting to shake things up.

They were the children born into the final decades of the 20th century. Sometimes branded Generation “me” or Generation “I”, but mostly known as Generation “Y”, they’re supposedly tech-savvy and globally focused, but also arrogant, with short attention spans, and expect to be able to have it “all” when it comes to family and work-life balance.

Family board members ‘need external and internal credibility’

August 8, 2011

Appointments of family members to boards are often more successful if they happen following a transparent nomination process and are based on a person’s ability, according to one leading family business commentator.

Professor Joachim Schwass from Swiss-based business school IMD said a family member’s success on a company board is dependent on their internal and external credibility, adding that all family board appointments should be assessed based on these factors.

IPO causes succession concerns at Prada

June 14, 2011

The high valuation of family-controlled Prada has caused concern about its management, with analysts worrying that the value cannot be sustained in the future due to the family’s lack of a clear succession plan.

The fashion giant’s planned initial public offering values the company at over $15 billion according to a statement by Prada. The listing will see the family’s stake – controlled by the husband-wife team of Patrizio Bertelli and Miuccia Prada – fall to 80% from the current 95% owned through family holdings.

Finance: Family Shareholders and institutional investors - a perfect match?

August 26, 2010

Selwyn Parker analyses why institutional investors are starting to appreciate the family business ownership model

Until the global financial crisis overturned the prevailing wisdom of institutional investors, the UK family-controlled brewer and pub owner Fuller, Smith & Turner was considered almost an anachronism in a highly-leveraged world. Listed on the London Stock Exchange, the firm had such low borrowing levels that it was shunned by most analysts and big investors in favour of much more highly-geared rivals who had not, in the phrase of the period, "tied up capital in the business".

News analysis: Family businesses return to profitability, but cautious on future

August 11, 2010

Times are better for family businesses. Those reporting their first half results are notching up much-improved profits after the dark days of 2009, when many were losing money

Times are better for family businesses.

Those reporting their first half results are notching up much-improved profits after the dark days of 2009, when many were losing money. But few think a return to profits mean the good times are here to stay.

Recovery for family-controlled businesses has touched most sectors. Businesses in the retail, manufacturing, media and food and drink sectors are seeing strong rebounds.

Pragmatism wins out in Porsche/Piech family feud

July 30, 2009

The very public dispute between the Porsche family, owners of Porsche, and the Piech family, who control Volkswagen, may soon be coming to an end, in business terms at least.

The very public dispute between the Porsche family, owners of Porsche, and the Piech family, who control Volkswagen, may soon be coming to an end, in business terms at least. An announcement made by Porsche yesterday stated that the two companies are "in advanced talks" over the disposal of the cash settled options used by Porsche to build up a stake in VW. This is the clearest sign yet that a merger is finally coming to fruition.

Are family firms immune from regulatory reform?

July 1, 2004

A spate of international financial scandals has forced governments to crack down on corporations, bringing corporate governance to the fore. But are the recommended steps to improve corporate behaviour fully applicable to family firms?

Hywel Lewis is a freelance financial journalist specialising in family business.