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succession

April 8, 2013

James Wates, a fourth-gen member of the family that controls the eponymous construction business, has been appointed chairman as the family reasserts its control of the business.

James Wates, a fourth-gen member of the family that controls the eponymous construction business, has been appointed chairman as the family reasserts its control of the company.

Wates (pictured, second from left) replaces non-family Paul Drechsler, who will remain as chief executive, until a replacement can be found for this position as well.

Drechsler had been at the helm for the past seven years in the role of both chairman and chief executive, but Wates had always planned a return to family leadership.

February 1, 2013

A court in Seoul has ruled in favour of Samsung’s second-generation chairman ensuring the current family ownership of the world’s biggest maker of smart phones will remain in place.

A court in Seoul has ruled in favour of Samsung’s second-generation chairman ensuring the current family ownership of the world’s biggest maker of smart phones will remain in place.

The court ruled in favour of Lee Kun-hee, Samsung's second-generation chairman in three cases brought against him by five of his relatives, allowing Lee to hold on to $3.7 billion (€2.7 billion) worth of company shares that the plaintiffs had tried to obtain.

January 25, 2013

Bernard Arnault’s complicated fiscal dealings in Belgium are all designed to keep luxury goods giant LVMH well under the Arnault family's control and not to avoid France’s proposed 75% super-tax, according to the company.

Bernard Arnault’s complicated fiscal dealings in Belgium are all designed to keep luxury goods giant LVMH well under the Arnault family's control and not to avoid France’s proposed 75% super-tax, according to the company.

The response from LVMH came as the patriarch of French industry again faced attack from the French public after further details of his financial plans and efforts to gain Belgian citizenship were revealed.

January 10, 2013

Internal communication issues in family businesses could be a sign of an addiction problem at the management level, according to consultants Regeneration Partners.

Internal communication issues in family businesses could be a sign of an addiction problem at the management level, according to consultants Regeneration Partners. Its recent research has found high levels of addiction in US family firms.

December 13, 2012

For some family businesses, navigating the financial crisis has been tough, but perhaps they should take a look at the business philosophy of the likes of the Whitechapel Bell Foundry, makers of Big Ben.

For some family businesses, navigating the financial crisis has been tough, but perhaps they should take a look at the business philosophy of the likes of the Whitechapel Bell Foundry, makers of Big Ben.



The company, which has seen the reign of 27 monarchs, is the oldest family business in Britain, according to a list released by Family Business United. It says Britain's 10 oldest family firms have been in business for a combined total of 4,027 years, averaging 400 years each. 



November 9, 2012

Johann Rupert, the second-generation head of Swiss luxury group Richemont, is to step down as chief executive next year and will be succeeded by two non-family members.

Johann Rupert, the second-generation head of Swiss luxury group Richemont, is to step down as chief executive next year and will be succeeded by two non-family members.

The family business, famous for owning brands such as Cartier and Montblanc, said in a statement today that Bernard Fornas and Richard Lepeu will replace Rupert from 1 April 2013.

Rupert, 62, who transformed the company founded by his father into a luxury giant, will remain chairman of Richemont.

January 25, 2012

Relinquishing control can often be difficult for company founders, but one Indian family business head is currently in the process of ensuring succession at his firm goes well.

Relinquishing control can often be difficult for company founders, but one Indian family business head is currently in the process of ensuring succession at his firm goes well.

December 12, 2011

Multi-billionaire Warren Buffett, chairman and chief executive of investment company Berkshire Hathaway, has confirmed his son Howard will head the family business after his death.

Multi-billionaire Warren Buffett, chairman and chief executive of investment company Berkshire Hathaway, has confirmed his son Howard will head the family business after his death.

In an interview with US TV programme 60Minutes, which aired on 11 December, Buffett, 81, said he wants his second-oldest child Howard, 56, to succeed him as chairman of the Omaha, Nebraska-based company.

July 13, 2011

They are the next corporate leaders—the superstars of family business dynasties rising to the top of the business world. CampdenFB, working in association with judges from business schools and the Family Business Network, and supported by Ernst & Young, has come up with the definitive list of the top 40 next generation leaders under the ago of 40.

They are the next corporate leaders—the superstars of family business dynasties rising to the top of the business world. CampdenFB, working in association with judges from business schools and the Family Business Network, and supported by Ernst & Young, has come up with the definitive list of the top 40 next generation leaders under the ago of 40.

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