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Ownership and Management

September 16, 2013

Successful family business in their fourth generation "prune" out next gens to ensure that only family members committed to the longevity of the business remain within the ownership structure, according to research. 

Successful family business in their fourth generation "prune" out next gens to ensure that only family members committed to the longevity of the business remain within the ownership structure, according to research.

In a recently published report – Good Fortune: Building A Hundred Year Family Enterprise – Massachusetts-based research firm Wise Counsel, aimed to uncover the unifying characteristics underpinning the success of long-term family businesses.

September 12, 2013

A technology company walked off with the prize for Family Business of the Year at PwC's UK Private Business of the Year Awards last night.

A technology company walked off with the prize for Family Business of the Year at PwC's UK Private Business of the Year Awards last night.

Midlands-based Rigby Group is one of Europe's largest IT companies, with more than 6000 employees worldwide and reported revenues of €2.7 billion in 2012.

Current chairman and chief executive Sir Peter Rigby founded the company in 1975 and his two sons Steven and James Rigby both hold director's roles.

September 10, 2013

The family behind US chain United Supermarkets has sold their business to a rival supermarket business, bringing 97 years of family ownership to a close.

The family behind US chain United Supermarkets has sold their business to a rival supermarket business, bringing 97 years of family ownership to a close.

Speaking at a press conference on Monday night, fourth-generation co-president Matt Bumstead said: "It’s hard for a family to keep their arms around an enterprise, a mission, as something grows over that many years."

September 10, 2013

Volkswagen chairman, Ferdinand Piech, 76, has refuted speculation he is soon to step down due to poor health and has said he will serve out the rest of his contract.

Volkswagen chairman, Ferdinand Piech, 76, has refuted speculation he is soon to step down due to poor health and has said he will serve out the rest of his contract.

He made the statement to reporters at the Frankfurt car show in response to reports last week that company chief executive Martin Winterkorn was soon to takeover.

Piech’s contract, extended last year, runs into 2017.

It was rumoured that Volkswagen finance chief Hans Dieter Poetsch would replace Winterkorn until a longer-term solution was found.

August 30, 2013

Family ownership structures in Latin American corporates reduce shareholder pressure for short-term returns, new research from Fitch Ratings has revealed.

Family ownership structures in Latin American corporates reduce shareholder pressure for short-term returns, new research from Fitch Ratings has revealed.

The findings come as the return on equity among the region’s corporates begins to weaken, following strong returns for the previous four years from 2008 to 2011.

August 27, 2013

The board of directors of feuding US family business Market Basket have hired an executive recruitment firm in a possible move to oust second-gen chief executive Arthur T DeMoulas.

The board of directors of feuding US family business Market Basket have hired an executive recruitment firm in a possible move to oust second-gen chief executive Arthur T DeMoulas.

They have also agreed to distribute $250 million (€187 million) among the Massachusetts supermarket chain’s nine family shareholders – a motion likely supported by DeMoulas’s rival and cousin Arthur S DeMoulas, who wants a greater share of company profits.

August 20, 2013

In a rare interview, CampdenFB talks to Mishal Kanoo, deputy chairman of one of the Middle East’s top family businesses, the Kanoo Group.

Family life is extremely private in the Gulf. In a way, it is not surprising that people who dress so conservatively, with women shrouded in black and men cloaked in white, should be so guarded in showing a public face. In the same way, family businesses in the Gulf Cooperation Council, which make up the vast majority of the successful corporations there, are curiously reluctant to share their successes with the press. For this reason, the willingness of Mishal Kanoo, deputy chairman of the GCC-based Kanoo Group, to speak to CampdenFB, is all the more remarkable.

August 8, 2013

Family businesses with succession plans in place are more likely to achieve a better credit rating and as such able to borrow easier than those with no plan, according to report from the ratings agency Standard & Poor’s.

Family businesses with succession plans in place are more likely to achieve a better credit rating and as such able to borrow easier than those with no plan, according to report from the ratings agency Standard & Poor’s.

August 6, 2013

Family media dynasty the Grahams have sold The Washington Post, one of the most respected news organisations in the US, after eight decades of family ownership.

Family media dynasty the Grahams have sold The Washington Post, one of the most respected news organisations in the US, after eight decades of family ownership.

It has been bought, along with a number of weekly newspapers, for $250 million (€188.6 million) by Jeff Bezos, the founder and chief executive of online retailer Amazon.

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