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Succession

Samsung promotes family member in executive reshuffle

December 15, 2009

Samsung Electronics Ltd, a division of South Korea’s largest conglomerate the Samsung Group, announced today third-generation Lee Jae Yong has been promoted to executive vice president and chief operating officer in a management reorganisation.

Samsung Electronics Ltd, a division of South Korea's largest conglomerate the Samsung Group, announced today third-generation Lee Jae Yong (pictured) has been promoted to executive vice president and chief operating officer in a management reorganisation.

The company also announced the promotion of Choi Gee Sung to the CEO role. In the statement released by the conglomerate this morning Choi said the new management structure was intended "to prepare for the challenges and opportunities ahead."

Lauders win Family Business Leader of the Year 2009

December 9, 2009

Readers of Campden FB and www.campdenFB.com have voted Ronald and Leonard Lauder as the winners of the second Family Business Leader of the Year Award.

Readers of Campden FB and www.campdenFB.com have voted Ronald and Leonard Lauder as the winners of the second Family Business Leader of the Year Award. Following in the footsteps of Emilio Botin, who won Campden FB's inaugural award last year, the Lauders came out on top of a very tight contest.

Securing 29% of the vote, brothers Ronald and Leonard beat Suntory chairman N Saji (22%) and Brazil-based P Bellini (21%) into second and third place respectively.

Dubai’s family businesses feeling fragile

December 9, 2009

It's impossible to pick up a paper anywhere in the world without encountering news of the debt drama in Dubai, where family businesses dominate the economic landscape, writes Amy Schuman

Amy Schuman is a principal of the Family Business Consulting Group and a founding facilitator of the Next Generation Leadership Institute, part of the Loyola University Chicago Family Business Centre.

Senior leadership: Creating a new life after leaving the family business

December 4, 2009

Christopher Oughtred retired from his family business in 2007. Having successfully passed the baton onto his youngest brother, Barbara Murray finds out how he managed his new found freedom

In September 2005, Campden FB featured an article entitled From My Hands to Yours, in which Christopher Oughtred (pictured) was in the final stages of his plan to exit as fifth-generation chairman of UK-based food manufacturers William Jackson and Son. Then 53-years-old, he had been planning his exit for about eight years in total. In his mid-forties, he undertook a long and detailed review of his life, his marriage, his family and his career in the family business.

Senior leadership: Top 10 successful seniors

December 4, 2009

To kick-off our look into successful seniors, Campden FB presents 10 family business leaders who have grown, shaped and left indelible legacies on both the corporate landscape and their own families

Murdoch hopes next generation will succeed him at News Corp

November 10, 2009

Rupert Murdoch, chairman of News Corp, has once again reiterated his desire that one of his children to succeed him as head of the international multimedia company.

Rupert Murdoch, chairman of News Corp, has once again reiterated his desire that one of his children to succeed him as head of the international multimedia company.

In an interview with Sky News Australia, Murdoch said: "I am sure one of them will emerge. It would be nice, every parent wants to see that." The family is in control of 40% of the voting rights for the business and, according to Murdoch, has regular succession meetings.

Fourth generation joins the board of family-controlled Hearst

October 23, 2009

George R Hearst III has been appointed to the management board of Hearst Corporation, the media company founded by his great-grandfather in founded in 1887.

George R Hearst III has been appointed to the management board of Hearst Corporation, the media company founded by his great-grandfather in founded in 1887.

George, 54, joins his father George Hearst Jr (pictured), who is chairman of the board and has also served as CEO, along with five other family members on the management board, whose directors are elected by the Hearst Family Trust.

Fourth generation takes over at Patek Philippe

October 19, 2009

Patek Philippe SA, the family-controlled watchmaker, announced today fourth-generation Thierry Stern has been appointed as president of the board of directors of the Geneva-based company.

Armani announces management restructure to promote non-family

October 2, 2009

Giorgio Armani, the owner and founder of the Italian fashion house that bears his name, announced on Wednesday he is to promote three non-family members to senior management positions.

Giorgio Armani, the owner and founder of the Italian fashion house that bears his name, announced on Wednesday he is to promote three non-family members to senior management positions. The reshuffle also includes expanding the board of directors in a move that will professionalise the €1.6 billion company and dilute the input of the family.

What Asians can learn from Americans

September 17, 2009

In the US, if you are a wealthy individual, you would not walk across the road without taking your lawyer, tax advisor, accountant and therapist with you. The wealthy Asian individual, however, will walk across the road on his/her own.

Asia has a different culture in terms of the use of external professional advisors, and this has some impact on the succession process. For example, most Asian families do not have a family shareholders agreement or "exit plan".