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succession

December 2, 2014

UK medium-sized businesses, many of which are family owned, need to be rebranded like the German Mittelstand so that their importance to the country’s economy is recognised, business leaders heard at an event in London this week.

UK medium-sized businesses, many of which are family owned, need to be rebranded like the German Mittelstand so that their importance to the country’s economy is recognised, business leaders heard at an event in London this week.

Mittelstand companies are widely credited with pushing German economic growth in the post-War era, and, although there is no formal definition, family ownership is often a defining characteristic, although the term can be applied broadly to all SMEs.

October 16, 2014

More than 80% of family businesses do not have a robust succession plan and 75% of firms with CEOs aged 65 or older still have no succession process in place, new research has revealed.

More than 80% of family businesses do not have a robust succession plan and 75% of firms with CEOs aged 65 or older still have no succession process in place, new research has revealed.

The biennial PwC Global Family Business Survey of 2,800 family businesses found just over half (53%) have succession plans in place for some, if not all senior roles, but only 30% of these ‘plans’ are properly documented.

August 29, 2014

Business-owning family members become less focused on financial wealth with age and increase the value they place on relationships within the company, new research out of the US has revealed.

Business-owning family members become less focused on financial wealth with age and increase the value they place on relationships within the company, new research out of the US has revealed.

The academic paper, published in a recent edition of Family Business Review, also revealed the results had knock-on effects for the type of people families go to for advice about their business, which could affect their companies’ ability to meet challenges down the road.

July 23, 2014

Nearly half of affluent Americans are reluctant to talk about inheritance plans with their successors, according to new research, despite the fact avoiding the subject means heirs are almost twice as likely to disagree about inheritance distribution. 

Nearly half of affluent Americans are reluctant to talk about inheritance plans with their successors, according to new research, despite the fact avoiding the subject means heirs are almost twice as likely to disagree about inheritance distribution.

July 15, 2014

Apollo Hospital Group’s promotion of four second-generation sisters to key executive roles signals the family business is preparing for entrepreneurial activities, a family business academic says.

Apollo Hospital Group’s promotion of four second-generation sisters to key executive roles signals the family business is preparing for entrepreneurial activities, a family business academic says.

This month, Dr Prathap Reddy, 80, founder and chairman of the Indian healthcare giant, announced Preetha Reddy, 56, already anointed his heir apparent, would have expanded duties under her new role as executive vice-chairwoman.

July 1, 2014

A UK family business expert has called into question findings from a Barclays survey that claims to shed light on relatives' relationships in a family business.

A UK family business expert has called into question findings from a Barclays survey that claims to shed light on relatives' relationships in a family business.

The study, Second Generation Family SMEs in the UK, asked 2,003 members of the British public whether they would hire a family member when setting up a business.

According to the study, 23% of the British public would prefer to work with siblings, followed by fathers at 9% and mothers at 7%.

May 14, 2014

Basing a family business in Cyprus or Poland instead of Denmark or France could significantly alter the tax burden on the next generation following succession, according to new analysis released by KPMG and European Family Businesses.

Basing a family business in Cyprus or Poland instead of Denmark or France could significantly alter the tax burden on the next generation following succession, according to new analysis released by KPMG and European Family Businesses.

May 6, 2014

Ingvar Kamprad, the founder of Swedish flat-pack furniture chain Ikea, has relinquished his last formal roles in the business he founded in 1943. 

Ingvar Kamprad, the founder of Swedish flat-pack furniture chain Ikea, has relinquished his last formal roles in the business he founded in 1943.

Kamprad, 88, left his roles on the boards of the two foundations that control Ikea's assets in late December last year, but the announcement was only made recently.

March 26, 2014

Rupert Murdoch appears to have anointed Lachlan Murdoch his family business heir apparent, in a reshuffle in 21st Century Fox and NewsCorp senior management this week, appointing the 42-year-old his co-chair at both companies.

Rupert Murdoch appears to have anointed Lachlan Murdoch his family business heir apparent, in a reshuffle in 21st Century Fox and NewsCorp senior management this week, appointing the 42-year-old his co-chair at both companies.

Lachlan's brother James Murdoch, once seen as the most likely successor to the Murdoch family empire, was promoted to co-chief operating office at 21st Century Fox, but will not be working in such a direct relationship with his father.

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