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Governance

How do wealth taxes affect family businesses?

April 20, 2023

The pandemic, the war in Ukraine and the economic recession that has followed, have, once again, sparked a new debate on taxing the wealthy. But, as Professor Raul Barroso discusses, such taxes might lead to unintended, negative repercussions.

The Covid-19 pandemic, the war in Ukraine and the economic recession that has followed, has, once again, sparked a new debate on taxing the wealthy.

Frank Hixon Foster: “Becoming the world's largest, closest family business”

April 17, 2023

Frank Hixon Foster, chairman emeritus of Hixon Properties and managing general partner of the Gideon Hixon venture capital fund, has seen first-hand the ups and downs of managing multi-generational wealth and has come through the other side with a clarity of vision that will help keep his family on track for many years to come. Here, in his own words, Frank talks about lessons from history and teaching for the future…

When US businessman Gideon Hixon started his lumber business more than 160 years ago, little did he probably know that his family wealth would grow across two World Wars, face potential ruin on numerous occasions, sustain and challenge six-going-on-seven generations and diversify into exciting and unexpected avenues.

FB Roundup: Petr Kellner, Amancio Ortega, Keshub Mahindra

April 12, 2023

In this week’s roundup, Petr Kellner’s heirs sue two years after his helicopter crash death; Amancio Ortega branches out into luxury Dublin property; and tributes are paid to former Mahindra Group chairman Keshub Mahindra.

Petr Kellner’s heirs sue following helicopter crash death
The heirs of Petr Kellner have filed a lawsuit citing “Potential negligence” after a helicopter crash caused the death of the Czech billionaire entrepreneur and four others in 2021.

Renata Kellnerova, the widow of the former richest Czech, and her family are seeking further investigation into the causes that led to the Airbus AS350 B3 helicopter crash, which took place while the group were heliskiing in Alaska's backcountry near Knik Glacier.

FB Roundup: Jim Marshall, Kjeld Kirk Kristiansen, Matthew Riley

April 3, 2023

In this week’s FB Roundup, the family-owned Marshall Amplification is sold to Sweden’s Zound Industries; share losses see profits fall for the Lego family’s investment firm; and Matt Riley’s Daisy Group is poised to buy cybersecurity company ECSC.

Family-owned Marshall Amplification sold to Sweden’s Zound Industries
The UK-based Marshall Amplification, which was founded by Jim Marshall (pictured left) and his son Terry in 1962 and has since gone on to become the amp of choice for some of the world's most famous musicians, has been acquired by the Swedish firm Zound Industries.

The agreement, which will see all Marshall brands and Zound Industries rebranded as the newly formed Marshall Group, will see the Marshall family retaining 24%, making them the largest shareholders.

The risk of addiction in family businesses

March 28, 2023

Addiction can be incredibly difficult to manage in any family dynamic - but when it shows up in a family business, the stakes are even higher, says family psychotherapist Fiona Yassin.

Addiction can be incredibly difficult to manage in any family dynamic, but when it shows up in a family business, the stakes are even higher.

But by understanding why and how addiction shows up in family businesses and learning the patterns of behaviour in individuals who misuse drugs and alcohol, families will be better equipped to support the addict out of their illness.

Connecting family members through generations: How my husband’s ancestor changed my life

March 28, 2023

Melanie Levensohn reveals how an improbable bond across generations helped to bring her family closer together.

“Life is like a box of chocolates, you never know what you're going to get” - Forrest Gump…

Philip Mackeown: Giving voice to family successors

March 23, 2023

The author of The Successor’s Voice, a practical guide for family members navigating the rocky road to succession, talks about building up resources, empowering through knowledge sharing and development of family talent…

“I wanted to write a book that I would have liked to read when I started out,” says fifth-generation family business owner, family talent advisor and successor development coach and mentor, Philip Mackeown of his reasons for penning The Successor’s Voice.

The generational handover in family business: Is it better to appoint internally or externally?

March 7, 2023

Sooner or later, all privately-owned companies have to tackle the quandary of the generational handover, but is it better to keep it in the family or bring in fresh blood, asks Jesús Rico, professor of strategy at EAE Business School?

Sooner or later, all large family companies have to tackle the quandary of the generational handover. Should they appoint a member of the family who knows the company and has its mission imprinted on their DNA? Or is it better to bring on board a director from outside the company who shakes things up with a new vision?

Enhancing human capital in business families: Creating a culture where everyone has a voice

March 3, 2023

Some younger family members aren’t waiting for formal transitions. They’re focused on contributing today to a world that will still be sustainable in 100 years' time, says KPMG's Creagh Sudding.

There are widespread and ongoing discussions among family businesses about the potential roles and contributions of next-generation family members. In some cases, this is the result of impending succession decisions and the need for a smooth transition from one generation to the next. But, in other cases, younger family members aren’t waiting for formal transitions. They’re focused on contributing today to aworld that will still be sustainable in 100 years' time.

George Muthoot George: ‘Sustainable practice is at the core of what we do’

February 27, 2023

In an exclusive interview with Campden FB, 19th-Generation family member George Muthoot George of the Muthoot Group talks about living up to family legacy, a passion for hospitality and the ultimate motivation for sustainable investment…

For nearly 800 years, the Muthoot family have been heavily involved in business and philanthropy in and around Kerala, India. Since its formal establishment in 1887, the Muthoot Group has grown into multi-layered conglomerate focussing on financial services, healthcare, agriculture, housing, media, education and more.