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Succession

February 25, 2014

The third-largest chocolate maker in the US, Russell Stover Candies, could net the controlling family more than $1 billion if they decide to sell the business.

The third-largest chocolate maker in the US, Russell Stover Candies, could net the controlling family more than $1 billion if they decide to sell the business.

The second-generation of the Ward family are mulling giving up the Missouri-based manufacturer of boxed chocolates, and have appointed investment bank Goldman Sachs to assess their options.

February 14, 2014

Turkish next-gens are placing greater importance on corporate governance and professionalisation of their family businesses than preceding generations, according to new research released today.

Turkish next-gens are placing greater importance on corporate governance and professionalisation of their family businesses than preceding generations, according to new research released today.

February 5, 2014

Bechtel Corporation, one of the largest family businesses in the US, is to appoint its first non-family chief executive and president, after fourth-geneneration Riley Bechtel announced he was stepping down due to health problems.

Bechtel Corporation, one of the largest family businesses in the US, is to appoint its first non-family chief executive and president, after fourth-geneneration Riley Bechtel announced he was stepping down due to health problems.

January 30, 2014

From its beginnings supplying the theatres springing up in the early days of London’s West End to a £10-million-a-year business, the history of Angels the Costumiers is a glamorous mix of theatre, film and fashion. 

From its beginnings supplying the theatres springing up in the early days of London’s West End to a £10-million-a-year business, the history of Angels the Costumiers is a glamorous mix of theatre, film and fashion.

January 9, 2014

Yannick Bollore, a seventh gen of the eponymous French holding company, has been appointed global chief executive of advertising and communications group Havas, which is majority owned by the multi-billion euro family empire.

Yannick Bollore, a seventh gen of the eponymous French holding company, has been appointed global chief executive of advertising and communications group Havas, which is majority owned by the multi-billion euro family empire.

In a statement released on Wednesday, Havas confirmed that existing non-family chief executive David Jones would be leaving the company to become CEO and co-founder of a new tech start-up that will launch next month.

December 27, 2013

Next-gens might feel that the older generation aren’t doing enough to help them develop a good relationship with the family firm. But they can take matters into their own hands. CampdenFB takes a look. 

Next-gens might feel that the older generation aren’t doing enough to help them develop a good relationship with the family firm. But they can take matters into their own hands. CampdenFB takes a look.

December 10, 2013

Business founders in Asia are delaying passing the reins on to the next generation, despite wanting to keep their company in family hands, a new report out of Singapore reveals.

Business founders in Asia are delaying passing the reins on to the next generation, despite wanting to keep their company in family hands, a new report out of Singapore reveals.

According to Asian business families succession: going the distance with the next generation, the first generation of a family firm is only likely to cede management control in their 70s.

December 5, 2013

Australian family retail empire Westfield Group has announced it will retake full control of the retail space at New York’s World Trade Center – 10 years after it sold the retail concourse of the original site, in the wake of the September 11 terrorist attacks.

Australian family retail empire Westfield Group has announced it will retake full control of the retail space at New York’s World Trade Center – 10 years after it sold the retail concourse of the original site, in the wake of the September 11 terrorist attacks.

Westfield, controlled by the Lowy family of Australia, repurchased a 50% stake in the retail part of the lower Manhattan site in July 2011, and announced in a statement this week that it would pay $800 million (€587 million) to buy the remaining stake.

November 28, 2013

Hong Kong-based real estate developer Wheelock & Co has appointed third-gen Douglas Woo, 35, to succeed his father, Peter Woo, 67, as chairman of the board.

Hong Kong-based real estate developer Wheelock & Co has appointed third-gen Douglas Woo, 35, to succeed his father, Peter Woo, 67, as chairman of the board.

Woo, who graduated in architecture from Princeton University, has only been a director on the board since July, when he was also appointed managing director of the company.

Wheelock & Co was founded in 1857, but has only been under the existing family’s ownership since 1985, when Woo’s maternal grandfather Yue-Kong Pao acquired it.

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