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succession planning

August 19, 2016

Giorgio Armani would do well to consider motivation, guidelines and accountability when setting up a foundation to control his €2.64 billion ($2.9 billion) empire.

Giorgio Armani would do well to consider motivation, guidelines and accountability when setting up a foundation to control his €2.64 billion ($2.9 billion) empire.

This is the advice from the UK family office team of professional services network KPMG when CampdenFB asked what succession plans they would recommend to the Italian fashion designer.

February 5, 2016

National Amusements third-gen Shari Redstone was the only vote from the board of directors at Viacom, her family’s media empire, opposing the appointment of Philippe Dauman as chairman on Thursday.

 

National Amusements third-gen Shari Redstone was the only vote from the board of directors at Viacom, her family’s media empire, opposing the appointment of Philippe Dauman as chairman on Thursday.

Her father, Sumner Redstone, 92, announced his retirement on Thursday. He had announced his retirement as chairman of the family’s other media empire CBS on Wednesday, where he will be replaced by its existing CEO and president Leslie Moonves.

February 4, 2016

Sumner Redstone’s expected resignation from family media empire Viacom today could unleash a succession battle between its non-family chief executive and his daughter, Shari, who has released a pointed statement about leadership at the company.

Sumner Redstone’s expected resignation from family media empire Viacom today could unleash a succession battle between its non-family chief executive and his daughter, Shari, who has released a pointed statement about leadership at the company.

Nonagenarian Redstone, 92, announced his retirement as chairman of the family’s other media empire CBS yesterday, where he will be replaced by its existing CEO and president Leslie Moonves.

February 3, 2016

The global financial crisis has messed with retirement timelines in family businesses, according to research out of the US, as Baby Boomers have focused on keeping their businesses afloat rather than succession planning.

The global financial crisis has messed with retirement timelines in family businesses, according to research out of the US, as Baby Boomers have focused on keeping their businesses afloat rather than succession planning.

Despite the fact that 62% of senior-generation owners plan to pass on their business within the next decade only 35% have a clear succession plan, the Kreischer Miller report said. Over half (51%) do not have a succession plan at all.

November 12, 2015

The bulk of successful family businesses place responsibility for succession planning with the board of directors, according to a new report, with shareholder councils and the chief executive the next most popular options.

The bulk of successful family businesses place responsibility for succession planning with the board of directors, according to a new report, with shareholder councils and the chief executive the next most popular options.

Preparing or procrastinating?, released by EY, also found that boards of directors are more likely to prioritise next generation education and preparation.

July 23, 2015

Indian family real estate business Lodha Group will be split into two entities to ease succession planning into the second generation – a strategy that is common in India, according to a family business academic based in the country.

Indian family real estate business Lodha Group will be split into two entities to ease succession planning into the second generation – a strategy that is common in India, according to a family business academic based in the country.

Lodha Group chairman and founder Mangal Prabhat Lodha plans to appoint his eldest son, Abhishek, 36, to the helm of the real estate business, while his younger son, Abhinandan, 33, will head a new financial services business.

June 22, 2015

More than four-fifths of Asian family businesses do not have a succession plan in place despite the majority expecting to handover to the next generation within five years, new research has revealed.

More than four-fifths of Asian family businesses do not have a succession plan in place despite the majority expecting to handover to the next generation within five years, new research has revealed.

June 19, 2015

The Murdoch family likely had a considerable amount of discussion and debate about the succession of brothers James and Lachlan Murdoch to the helm of 21st Century Fox, a US family business expert says, and did well to keep those discussions contained.

The Murdoch family likely had a considerable amount of discussion and debate about the succession of brothers James and Lachlan Murdoch to the helm of 21st Century Fox, a US family business expert says, and did well to keep those discussions contained.

Earlier this month it was revealed that Rupert Murdoch was standing back as chief executive of the movie and entertainment studio, appointing his sons to top positions within the company, with James becoming chief executive.

May 8, 2015

Nonagenarian Viacom and CBS chairman Sumner Redstone has been forced to release a statement that he has no plans to retire, following media speculation he is in poor health.

Nonagenarian Viacom and CBS chairman Sumner Redstone has been forced to release a statement that he has no plans to retire, following media speculation he is in poor health.

Redstone added that despite press reports to the contrary, no decision on his successor had been made.

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