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Ownership and Management

March 30, 2015

Investors have backed the second-generation chief executive of Otsuka Kagu in a feud with her father, who wanted her ousted from the family business.

Investors have backed the second-generation chief executive of Otsuka Kagu in a feud with her father, who wanted her ousted from the family business.

Kumiko Otsuka, 47, succeeded her father to the helm of the Japanese furniture retailer in 2009, and has been attempting to give the company more mass market appeal in order to compete with brands like Ikea.

However, her father, company founder Katsuhisa Otsuka, has accused her of taking the firm down market.

February 17, 2015

A third-gen of South Korean conglomerate LG Group appears to have cracked the glass ceiling at her family’s business, becoming the first female family member appointed to top management.

A third-gen of South Korean conglomerate LG Group appears to have cracked the glass ceiling at her family’s business, becoming the first female family member appointed to top management.

Koo Ji-eun, who is also a next gen of the Samsung empire through her mother’s side, was appointed vice president of LG Group's catering subsidiary Ourhome this month, 11 years after she joined the company.

Koo is the daughter of Ourhome chairman Koo Cha-hak, and her uncles are LG Group chairman Koo Bon-moo and vice-chairman Koo Bon-joon.

February 16, 2015

Italian confectioner Michele Ferrero, who created Kinder eggs and Ferrero Rocher for his eponymous family business, died over the weekend, aged 89. 

Italian confectioner Michele Ferrero, who created Kinder eggs and Ferrero Rocher for his eponymous family business, died over the weekend, aged 89.

The second gen passed away in Monaco, where he lived, on Valentine’s Day – one of the chocolate industry’s most important dates of the year. He had been suffering from illness for the past couple of months.

Although the business has been in the third generation for almost two decades, Ferrero was considered the main decision maker.

February 13, 2015

Leadership has been passed on to a non-family executive this week in a surprise announcement at Canadian family business Bombardier, as the company posts a big loss for the fourth quarter.

Leadership has been passed on to a non-family executive this week in a surprise announcement at Canadian family business Bombardier, as the company posts a big loss for the fourth quarter.

Pierre Beaudoin, grandson of the company’s founder, has been chief executive of the Montreal-based aerospace company since 2003, but on Thursday announced he was stepping down to make way for Alain Bellemare, a former United Technologies Corp (UTC) executive.

February 12, 2015

A measure introduced by the Italian government to incentivise partial listing of family businesses and encourage long-term shareholdings has been amended after institutional investors raised concerns that it unfairly benefited controlling shareholders.

A measure introduced by the Italian government to incentivise partial listing of family businesses and encourage long-term shareholdings has been amended after institutional investors raised concerns that it unfairly benefited controlling shareholders.

Last year the Matteo Renzi-led government allowed listed companies to introduce “loyalty shares”, which grant shareholders double voting rights if they hold stock for more than two years.

January 30, 2015

British airline Monarch has said it expects to return to profit this year following a multi-million pound rescue package by Greybull Capital family office, which purchased the firm in October.

British airline Monarch has said it expects to return to profit this year following a multi-million pound rescue package by Greybull Capital family office, which purchased the firm in October.

The Luton-based airline was reportedly on the brink of collapse before Greybull Capital, headed by the Meyohas brothers, injected £125 million (€166 million) in October in exchange for a 90% stake.

January 28, 2015

Almost two-thirds of US family businesses see recruitment of skilled personnel as a major challenge in the next 12 months and are predicting that the issue is likely to hamper growth, new research has revealed.

Almost two-thirds of US family businesses see recruitment of skilled personnel as a major challenge in the next 12 months and are predicting that the issue is likely to hamper growth, new research has revealed.

The PwC survey of 154 mid-sized US family businesses also found that 66% of respondents believe that staffing issues are likely to get worse over the next five years with many investing in training in order retain employees.

January 26, 2015

Not one but two family business dynasties are in court this week, in generational battles questioning the decision-making ability of aging family members. 

Not one but two family business dynasties are in court this week, in generational battles questioning the decision-making ability of aging family members.

In the US, Tom Benson, the billionaire owner of pro-American football team the New Orleans Saints, will be in court over the future control of his sports and business empire.

And starting today in Southern France, 10 people will be answering to allegations that they capitalised on the mental frailty of L’Oreal heiress, Liliane Bettencourt.

January 23, 2015

2014 was a lively year for family businesses, from Abigail Johnson’s succession at Fidelity, to the Market Basket ownership struggle and of course Korean Air’s infamous ‘nut rage’ incident. Here we take a look at some of the issues we think will remain top-of-mind for 2015 and the family businesses to watch.

2014 was a lively year for family businesses, from Abigail Johnson’s succession at Fidelity, to the Market Basket ownership struggle and of course Korean Air’s infamous ‘nut rage’ incident. Here we take a look at some of the issues we think will remain top-of-mind for 2015 and the family businesses to watch.

1: Shareholder revolts

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