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FB Roundup: Bombardier, Cemex, and Walmart

February 19, 2016

Bombardier to cut 10% of global workforce; Cemex posts strong full-year results; and Walmart forecasts sluggish sales growth

Bombardier to cut 10% of global workforce

Canadian transporter Bombardier is to cut 7,000 jobs over the next two years – close to 10% of its global workforce – after revenues slumped by 10% in 2015.

Bombardier, the world’s third largest maker of jet aircraft, posted revenues of $18.2 billion in the year to 31 December 2015, down from $20.1 billion in 2014.

The company said it plans to reduce the number of shares it has outstanding with a reverse stock split to boost its attractiveness to investors.

Family Business Roundup: Faber-Castell, Walmart, and Hanwha Group

December 11, 2015

Mary von Faber-Castell appointed to Faber-Castell board; Walmart Launches mobile payment system for smartphones; and Hanwha promotes chairman’s eldest son

Mary von Faber-Castell appointed to Faber-Castell board

Countess Mary von Faber-Castell, the wife of Count Anton-Wolfgang von Faber-Castell, CEO of the eponymous stationary manufacturer, will be appointed to the firm’s management board early next year, according to a company statement.

The countess is set to become the fifth member of the board but will continue to head up the cosmetics division, where she previously held the role of managing director.

Family Business Roundup: Busch, Realia, and WalMart

October 16, 2015

Family-owned Busch raises stake in Pfeiffer Vacuum; Slim names close associate as CEO of Realia; and WalMart stock tumbles following drop in annual profit

Family-owned Busch raises stake in Pfeiffer Vacuum

German vacuum pump maker Busch, owned by the eponymous family, has increased its stake in rival Pfeiffer Vacuum to 27.2% from 15%, according to a company statement.

Busch had bought the 15% stake in Pfeiffer in a surprise move last month as it seeks to expand its reach within the market.

Walton family tries to distance itself from Walmart

April 23, 2015

Investor sentiment and family reputation could be driving the Walton family’s announcement that it intends to cap its stake in US hypermarket chain Walmart at 50%, according to a business academic from Arkansas, where the company is headquartered.

Share buyback programmes have caused the family’s stake to rise above the threshold, and it has consequently announced it will rid itself of shares “from time to time” to stop this.

Divorces, impact investing and rich lists: Top 10 stories of 2014

December 24, 2014

A messy divorce, impact investing, and Indonesian rich lists – these were just some of the themes that kept CampdenFB readers hooked during 2014. Below we’ve listed the most read stories of the year.

1. Berkshire Hathaway offers long-term alternative for family offices

Family business round up: Gokongwei, Louis Dreyfus, Walmart

July 25, 2014

Former Woolworth’s exec to head Walmart; Gokongwei family buy NZ biscuit maker for $700 million; Louis Dreyfus exits Indonesian palm oil venture

Former Woolworth’s exec to head Walmart; Gokongwei family buy NZ biscuit maker for $700 million; Louis Dreyfus exits Indonesian palm oil venture

Former Woolworth’s exec to head Walmart

Greg Foran, the former head of Woolworths, has been appointed president and chief executive of Walmart US, replacing Bill Simon, who has headed the company since 2010.

Walmart reveals family succession plans at shareholders meeting

June 9, 2014

Walmart second-gen Rob Walton has appointed son-in-law Greg Penner to vice chairman of the family business, putting him in line to gain control of the multinational corporation.

Walmart second-gen Rob Walton has appointed son-in-law Greg Penner to vice chairman of the family business, putting him in line to gain control of the multinational corporation.

Speaking at the annual shareholders meeting in Arkansas on Friday, Walton revealed Penner, a board member since 2008, would act as chairman during periods of absence and use his expertise in technology and e-commerce to develop a range of smaller stores.

Messy divorce for Walmart heiress

April 24, 2014

A third gen of the Walmart dynasty is facing a difficult divorce from her husband of six years, after filing a civil lawsuit claiming he stole money from her during their marriage.

A third gen of the Walmart dynasty is facing a difficult divorce from her husband of six years, after filing a civil lawsuit claiming he stole money from her during their marriage.

Paige Laurie is divorcing her husband Patrick "Bo" Dubbert citing irreconcilable differences, but also lodged a civil suit on the grounds he siphoned cash from a business they operated together.

Laurie, the granddaughter of Bud Walton, the brother of Walmart founder Sam Walton, and Dubbert owned a shopping centre in Malibu that Dubbert managed.

Chinese next-gen revealed as world’s youngest billionaire

March 5, 2014

A reclusive second-gen to Chinese real estate agent Logan Properties has been declared the youngest billionaire on the planet by Forbes World’s Billionaires List, which includes a number of family business members.

A reclusive second-gen to Chinese real estate agent Logan Properties has been declared the youngest billionaire on the planet by Forbes World’s Billionaires List, which includes a number of family business members.

At age 24, Hong Kong native Perenna Kei is an 85% shareholder in the family business and a non-executive director. Her father, Ji Haipeng, is chairman and chief executive of the company.

Walmart accidentally incites an anti-capitalist revolution

December 5, 2013

Walmart’s attempt to make a quick buck off anti-capitalist images by street artist Banksy has backfired, with the artist’s publicist asking to have the items removed.

Walmart’s attempt to make a quick buck off anti-capitalist images by street artist Banksy has backfired, with the artist’s publicist asking to have the items removed.

The retailer, controlled by the Waltons, had been selling canvases and t-shirts bearing the artist’s stenciled images through its website.

One image included a street vendor selling a t-shirt emblazoned with the words ‘Destroy Capitalism’.