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Succession

June 7, 2017

Lidl new catwalk for Heidi Klum; EasyJet founder pledges half his fortune; and Ralph Lauren appoints new chief executive

Lidl new catwalk for Heidi Klum

Model Heidi Klum has chosen the aisles of Lidl as her next catwalk, launching a fashion line in conjunction with the discount supermarket.

The range will be released in the chain’s 650 UK and 9000-plus European stores this autumn.

May 5, 2017

Molina Healthcare dumps family executives; Olayan Financing eyes IPO; family-owned Breitling sells out to private equity.

Molina Healthcare dumps family executives due to poor financial performance

US family-run Molina Healthcare has replaced the two brothers who have run the health insurer since 1996, replacing them with a non-family director due to poor financial performance.

Mario Molina, its second-generation chief executive, and John Molina, its chief financial officer (CFO), have been replaced by current chief accounting officer Joseph White who becomes interim chief executive while the company recruits a new chief executive, and CFO.

March 2, 2017

New World’s Adrian Cheng climbs succession ladder, Heineken results bolstered by Brexit, Euronext launches family business index

New World’s Adrian Cheng climbs succession ladder

Third-generation family member Adrian Cheng, 36, has been promoted to executive vice-chairman and general manager of New World Group – a possible signal of future succession plans.

The timing of the announcement was downplayed as a coincidence by Cheng who for the first time presented the six monthly results for the Hong Kong-based property behemoth.

New World Group reported revenues for the six months to 31 December of HKD26.6 billion ($3.4 billion).

February 16, 2017

The McKinney Møller family intends to directly own – partly or as a majority shareholder – several Maersk-related entities following key strategic changes at the Danish transport-to-energy behemoth Maersk Group.

The McKinney Møller family intends to directly own – partly or as a majority shareholder – several Maersk-related entities directly following key strategic changes at the Danish transport-to-energy behemoth Maersk Group.

The announcement comes as the 113-year-old Danish company replaced its chairman of 14 years and posted its second heaviest loss in seven decades.

February 9, 2017

Third-generation Saputo to succeed founding father; Slim and Servitje subsidiaries to launch ‘made-in-Mexico’ e-cars; Tata removes Mistry, set to install Chandrasekaran 

Third-generation Saputo to succeed founding father
Lino Saputo Jr is to succeed his father, Emanuele (Lino), as chairman of his family’s eponymously named dairy company - one of the top ten dairy processors in the world.

Currently chief executive and vice chairman, third-generation Saputo Jr will replace the founding chairman from 1 August and also retain his responsibilities as chief executive.

February 2, 2017

Family business principals are being urged to start a formal succession plan early as less than a third of high-net worth Americans and Britons admit they have a plan in place to transfer wealth to their next generation.

Family business principals are being urged to start a formal succession plan early as less than a third of high-net worth Americans and Britons admit they have a plan in place to transfer wealth to their next generation.

However, high-net worth Britons were ahead of their American and Canadian peers in boosting their financial literacy, integral for succession planning. Greater preparedness was directly linked to greater confidence among parents their children will preserve the family fortune.

October 27, 2016

Almost all family businesses confess they are operating without a strategy for succession, despite knowing full well the issue of generational transition is looming, new research claims.

Almost all family businesses confess they are operating without a strategy for succession, despite knowing full well the issue of generational transition is looming, new research claims.

A remarkable 97% of family business owners surveyed complained of a lack of direction and purpose for their business and 95% admitted the challenges of achieving a work-life balance contributed to the lack of succession planning.

October 26, 2016

Why appoint family members as directors when the pool of excellent, qualified, independent executives numbers in the thousands?

Why appoint family members as directors when the pool of excellent, qualified, independent executives numbers in the thousands?

The Fourth of July is a US national carnival unlike any other – celebrating the anniversary of the signing of the Declaration of Independence in 1776.

September 20, 2016

Experience in managing successful successions in family businesses will increase in value as ultra-high net worth individuals worldwide transfer more than $3.9 trillion between generations over the next decade.

Experience in managing successful successions in family businesses will increase in value as ultra-high net worth individuals worldwide transfer more than $3.9 trillion between generations over the next decade.

The new Global Family Office Report by Campden Wealth, in partnership with UBS, revealed 43% of family offices expected a generational transition within the next 10 years, rising to 69% in the next 15 years.

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