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retirement

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.

Wal-Mart CEO steps down amid praise from family

November 24, 2008

Rob Walton, chairman of the Wal-Mart board of directors and son of founder Sam Walton, has announced the surprise departure of CEO Lee Scott after nine years at the helm.

Rob Walton, chairman of the Wal-Mart board of directors and son of founder Sam Walton, has announced the surprise departure of CEO Lee Scott (pictured) after nine years at the helm. Mike Duke is promoted to succeed Scott who will continue serving as chairman of the executive committee of the board.

“This management change occurs at a time of strength and momentum for Wal-Mart,” said Walton, referring to the latest earnings figures released earlier this month that showed sales were up 7.5% on the same period last year.

UK family business chairman steps down

March 13, 2008

The chairman of one of the UK’s most successful family companies is stepping down.

The chairman of one of the UK's most successful family companies is stepping down. Sir Ken Morrison (pictured) will retire as chairman and director of supermarket giant WM Morrison today after more than 50 years of working in the firm. The company was founded in 1899 by Ken's father, William Murdoch Morrison.

Orderly succession

January 1, 2007

Don’t let those close to you delay your decision to retire and pass on the baton. Once the planning process is complete, says Tom Davidow, work together as a family and commit to the change – it can be a positive move for you, your family members and the business

Tom Davidow is founder and principal of Thomas D. Davidow & Associates, based in Brookline, MA.

Don't let those close to you delay your decision to retire and pass on the baton. Once the planning process is complete, says Tom Davidow, work together as a family and commit to the change – it can be a positive move for you, your family members and the business

Reshaping – not retiring

September 1, 2006

Tom Davidow is founder and principal of Thomas D Davidow & Associates. Dr. Davidow has more than 20 years of experience working with family controlled enterprises. He is based in Brookline, MA.

To infinity and beyond...

May 1, 2006

Four months into retirement, Alan Hassenfeld hasn’t played a single round of golf – he’s busier than ever, championing Hasbro’s interests and cementing his family’s legacy. Hasbro’s last founding family member talks exclusively to Melanie Stern

Melanie Stern is section editor of Families in Business.

Four months into retirement, Alan Hassenfeld hasn't played a single round of golf – he's busier than ever, championing Hasbro's interests and cementing his family's legacy. Hasbro's last founding family member talks exclusively to Melanie Stern

The golden goose

March 1, 2006

UK demographics predict a sharp and rapid rise in the retired population by 2020. So sheltered housing for older people is big business. Churchill Retirement Living is a multi-million pound company and growing. Scott McCulloch inspects the foundations

Scott McCulloch is editor of Families In Business

From my hands to yours: retirement as self-renewal

November 1, 2005

Barbara Murray is director of Family Business Solutions UK.

Passing on the baton of responsibility is not easily achieved, particularly as demographic changes are intensifying the time pressures felt by senior and junior generations to plan their successions. Barbara Murray explains the importance of legacy and preparation

Overwhelmed and unsure

April 1, 2003

In the late 1950s Harold Reynolds, as sole owner, founded a gravel and crushed stone business, County Gravel, Inc (“County”) that thrived during a highway construction boom.

In the late 1950s Harold Reynolds, as sole owner, founded a gravel and crushed stone business, County Gravel, Inc ("County") that thrived during a highway construction boom. Harold and his wife Gladys equally, as the Reynolds Limited Partnership ("the Partnership"), own the real estate where County conducts its active business. Gladys and Harold have three children: Bill (48), Cathy (44) and Ricky (42).