Dyson profits up 41% on Asia surge
Profits at British technology company Dyson have increased by 41% following increased sales of vacuum cleaners, air purifiers and hairdryers in Asia.
The Wiltshire-based family business tripled its revenue in china, Indonesia and the Philippines in 2016. The region accounted for more than half of Dyson’s sales and profit.
Dyson’s son Jake, 42, produces high-end energy efficient lights through his company Jake Dyson Products, which became part of the overall Dyson Group in 2015.
The middle child has been a non-executive board director at Dyson since 2013, and is tipped to take over the business.
Sir James Dyson founded the firm in 1987. The 69-year-old owns 100% of the business.
Wegmans Food Markets hands CEO role to next gen
Danny Wegman, the 70-year-old chief executive of US supermarket chain Wegmans Food Markets, has appointed his daughter Collleen to succeed him at the helm of the family-run retailer.
“I will continue in my role, but now as chairman of the company,” Danny Wegman said in a statement.
“The time has come to create a structure for the future that will allow us to remain strong, vibrant and family-owned. I have no doubt that our company will be in good hands.”
Colleen is Wegmans' fourth generation of the family's leadership. Her grandfather, Wegmans second gen Robert Wegman, named her president in 2005, in the same year he appointed Danny Wegman as chief executive.
Wegmans was founded in 1916 and is headquartered in Rochester, New York.
Al Masaood appoints new chairman
The Al Masaood Group has announced that its long-serving chairman and co-founder HE Abdulla Al Masaood has retired and will be succeeded by his nephew.
The Abu Dhabi-based firm said in a statement the appointment of the Masaood Ahmad Al Masaoodis was part of structural and strategic changes to create a new operating model.
Masaood Ahmad Al Masaood said: “Under my predecessor’s able and hands-on leadership Al Masaood has grown both in strength and diversity and now sits in an enviable place as regards deciding its future direction and reaching its full potential.
The Al Masaood Group was founded in 1971. Today it operates through 73 individual business units spanning 18 markets.