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Succession

Winning heritage

November 1, 2005

Foresight and vision have made the Votorantim Group one of the most powerful corporations in Brazil. Joachim Schwass charts the history of the family behind the business and examines the management structures that have helped it to succeed

Joachim Schwass directs the Annual IMD – LODH Distinguished Family Business Award

A question of succession

November 1, 2005

“The creation of something new is not accomplished by intellect, but by the play instinct acting from inner necessity. The creative mind plays with the objects it loves” (Carl Jung)

John Tucker is a Grant Thornton Fellow in Family Business at the International Centre for Families in Business.

"The creation of something new is not accomplished by intellect, but by the play instinct acting from inner necessity. The creative mind plays with the objects it loves" (Carl Jung)

Sing the same song

September 1, 2005

Divisions and squabbles are a feature of the human condition but they do nothing to help a company develop. Andrew Keyt explains how a bit of give and take is essential when it comes to appreciating the roles and contributions of family members and employees

Andrew Keyt is president of the US chapter of FBN International and executive director of the Loyola University Chicago Family Business Center

Young market matures

September 1, 2005

Since deregulation of the market, private business has mushroomed in Russia. But now family firms face issues such as succession and governance. The editor of the Russian version of Families in Business, Shamil Magomedov, outlines the situation

As a managing editor of the Russian edition of Families in Business, I ask myself: What would I say about my own country? A country of great history and culture. It is a melting pot of change with amazing opportunities.

Aim for a slow maturation to get a fine vintage for your company

May 1, 2005

Family members should be encouraged to gradually take on responsibility in running the business as soon as they are able to work – so when the time is ripe for succession, the company will flourish rather than wither on the vine, writes James Hutcheson

James Olan Hutcheson is founder and president of Regeneration Partners. jim@regeneration-partners.com

Heir raising: help your child to become a natural born leader

May 1, 2005

To prepare your heirs to take the reins of your family business, you must start early and be more of a mentor than a boss. Karen Vinton believes that a light touch and plenty of encouragement are the best way to reap satisfying dividends from willing offspring

Karen Vinton is a family business consultant with Vinton Consulting Services in Gallatin Gateway, Montana

Oops, i almost forgot to mention...

March 1, 2005

Fouad (Fred) H is a self-made man. He arrived in Montreal from Lebanon in the late 1950s at the age of 23 with $150 in his pocket and a pregnant wife, Nieves, whom he met while on vacation in Spain.

Fouad (Fred) H is a self-made man. He arrived in Montreal from Lebanon in the late 1950s at the age of 23 with $150 in his pocket and a pregnant wife, Nieves, whom he met while on vacation in Spain. He took a job as a messenger at a local pharmacy and was able to save enough money to buy his first fashion jewellery shop. Forty years later he had built a large empire with over 65 stores across Canada – with affiliations in the US.

Resetting the emotional barometer from one generation to the next

March 1, 2005

As small family businesses evolve into multi-national corporations, the third and fourth generations can tend to feel distanced from the central management of the company. An annual ‘cousins’ consortium’ can help maintain harmony, explain Bonnie Brown and Chester Weber

Bonnie M Brown is President of Transition Dynamics Inc. www.transitiondynamicsinc.com. chester E weber is an associate of Wealthbridge Partners. www.wealthbridgepartners.com

As small family businesses evolve into multi-national corporations, the third and fourth generations can tend to feel distanced from the central management of the company. An annual 'cousins' consortium' can help maintain harmony, explain Bonnie Brown and Chester Weber

Succession planning: who needs it and when do you start?

January 1, 2005

Is there just a right time to address the process or is it just a downright impossible task? Yes and no, says Don Schwerzler, as long as all relevant family members are involved from the start and the process is not left until the last minute

Don Schwerzler is founder of the Family Business Institute in Atlanta. www.family-business-experts.com

Ain't love grand?

January 1, 2005

Following US fashion, older generations of British family businesses are ushering successors to sign pre-nuptial agreements as part of the ownership transfer – even if the contracts aren’t legally binding in the UK. Melanie Stern reports

Melanie Stern is section editor of Families in Business magazine.