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November 24, 2015

A family business that has served as a jeweller to six generations of British royalty are sponsoring an exhibition at one of London’s top museums to celebrate their 150th anniversary.

A family business that has served as a jeweller to six generations of British royalty are sponsoring an exhibition at one of London’s top museums to celebrate their 150th anniversary.

Luxury antique dealer Wartski was founded by a Polish refugee, Morris Wartski, in 1865 in the Welsh town of Bangor. Its clients have included everyone from Bing Crosby to Kate Middleton and Prince William, who exchanged wedding bands made by the company when they married in 2011.

November 24, 2015

Former billionaire Dorothéa Steinbruch, whose family control steelmaker Companhia Siderurgica Nacional and lender Banco Fibra SA, died at the weekend aged 85.

Former billionaire Dorothéa Steinbruch, whose family control steelmaker Companhia Siderurgica Nacional and lender Banco Fibra SA, died at the weekend aged 85.

Steinbruch was the widow of Mendel Steinbruch, one of the founders of Brazilian textile business Vicunha Group, whose current chief executive officer is their son Ricardo. Their second son Benjamin is CEO of Companhia Siderurgica Nacional.

November 2, 2015

The founder of the world’s largest two wheeler business has died at the age of 92, leaving behind a multi billion dollar family empire.

The founder of the world’s largest two-wheeler business has died at the age of 92, leaving behind a multi billion dollar family empire.

Brijmohan Lall Munjal was among four brothers who founded the predecessor company to Hero MotoCorp in 1954, and remained chairman emeritus until his death on Sunday.

His son Pawan Munjal, who has been managing director and CEO since 2001, only succeeded his father as chairman in June.

October 16, 2015

Roger Pedder, the man credited with turning around shoe manufacturer and retailer Clarks, and helping it become one of the sector's top companies globally, has died from leukaemia aged 74.

Roger Pedder, the man credited with turning around shoe manufacturer and retailer Clarks, and helping it become one of the sector's top companies globally, has died from leukaemia aged 74.

He became chairman of UK-based Clarks in 1993 following disputes between family members over whether to sell amid stagnant turnover and falling dividends.

A retail specialist, Pedder heavily expanded Clarks' high-street presence, a move that paid off as operating profit increased from £27.6 million in 1993/94 to £94.2 million in 2005/06.

October 9, 2015

Advancements in technology have made it easier than ever for family businesses to expand into new territories, and many are advising the next generation to seek a global education in order to expand their horizons. Michael Finnigan reports

Michel Haddad, a 34-year-old next gen from Lebanese family business Technica, is one of a growing number of executive MBA (EMBA) students prepared to travel huge distances to study. 

Every two months the sales manager temporarily steps away from his role at the family business, travels 2,000 miles and spends two weeks studying at the EDHEC Business School in Lille, France. He hopes the Global EMBA course, which is specifically designed for family businesses, will prepare him for future leadership.

September 25, 2015

Martin Winterkorn may have survived an attempted leadership coup in April, which pitted third-generation chairman against non-family executive, but the Volkswagen CEO did not prove so resilient in the face of the corporate scandal currently rocking the carmaker.

Martin Winterkorn may have survived an attempted leadership coup in April, which pitted third-generation chairman against non-family executive, but the Volkswagen CEO did not prove so resilient in the face of the corporate scandal currently rocking the carmaker.

Today the family business is reportedly set to announce that Matthias Mueller, who current heads the company’s luxury Porsche brand, will take over the entire group.

Winterkorn had worked at Volkswagen since 1993, serving as CEO for the last eight years.

September 22, 2015

Family-controlled carmaker Volkswagen has admitted it deliberately tampered with thousands of its cars’ emission testing software to deceive US environmental authorities.

Family-controlled carmaker Volkswagen has admitted it deliberately tampered with thousands of its cars’ emission testing software to deceive US environmental authorities.

It faces an initial fine of $18 billion for the 11 million cars affected, equivalent to its net annual profits, but if further investigations find the rigging is more widespread this could rise.

The German carmaker posted revenues of €197 billion in 2013.

September 16, 2015

L.L. Bean, the All-American fashion retailer based in Maine, has closed its 24-hour flagship store to remember third-generation family member Leon Gorman, who died this month from cancer. The philanthropist and businessman was 80.

L.L. Bean, the All-American fashion retailer based in Maine, has closed its 24-hour flagship store to remember third-generation family member Leon Gorman, who died this month from cancer. The philanthropist and businessman was 80.

It is the third time the chain’s Freeport store has closed since its all-hours service started in 1951. The two other occasions were the deaths of US president John F Kennedy and the company’s eponymous founder, L.L. Bean.

August 28, 2015

New Zealand’s most successful jewellery chain will fall into the hands of the second generation in November, following a vote at the company’s annual shareholders’ meeting.

New Zealand’s most successful jewellery chain will fall into the hands of the second generation in November, following a vote at the company’s annual shareholders’ meeting.

Michael Hill International launched in 1979, with one shop opened in Whangarei, a small city of just 54,000 people, but today has 300 stores across Australia, New Zealand and North America.

The jewellery business, which is now headquartered in Australia, last year had revenues of AU$505.6 million.

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