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Succession

April 27, 2009

Jane Simms profiles two leading ladies who are blazing a trail for the fairer sex in India.

Meher Pudumjee, chairperson of Thermax Limited, the family business set up by her maternal grandfather some 40 years ago, is testimony to just how quickly the role of women in family businesses is changing in India.

She joined the board of Thermax, which produces energy and environmental systems for industrial customers around the world, in 1996 after the sudden death of her father, becoming non-executive chairman four years later. She had first joined the company aged 21, straight after a degree in chemical engineering at Imperial College, London.

April 9, 2009

With company results season in full swing, and stockmarkets very much in decline the world over, it is common to hear owners of privately-held family businesses congratulating themselves on not being at the mercy of analysts and quarterly reporting.

With company results season in full swing, and stockmarkets very much in decline the world over, it is common to hear owners of  privately-held family businesses congratulating themselves on not being at the mercy of analysts and quarterly reporting, writes Marc Smith. However, there are a number of family-controlled public companies who are bucking the trend and combining the best aspects of private and listed status.

April 2, 2009

In cubism, the artist depicts his subject from a multitude of viewpoints by breaking up, analysing and re-assembling objects in an abstracted form. Leonard and other members of the Lauder family have been doing something similar with the management of Estee Lauder Companies of late, culminating in the accession of non-family member Fabrizio Freda to the CEO position late last week.

Leonard Lauder, son of cosmetics queen Estee, is famously a fan of the cubist art movement pioneered by Picasso and Braque in the early 20th century writes Marc Smith. In cubism, the artist depicts his subject from a multitude of viewpoints by breaking up, analysing and re-assembling objects in an abstracted form.

Leonard and other members of the Lauder family have been doing something similar with the management of Estee Lauder Companies of late, culminating in the announcement last week of the accession of non-family member Fabrizio Freda to the CEO position.

March 16, 2009

Sir Anthony O’Reilly has announced he is to retire as CEO of Independent News & Media on 7 May this year. He will be succeeded by his son, Gavin, who has held the chief operating officer position for the past eight years.

Sir Anthony O'Reilly has announced he is to retire as CEO of Independent News & Media on 7 May this year. He will be succeeded by his son, Gavin, who has held the chief operating officer position for the past eight years.

Sir Anthony, 72, is the largest shareholder with 28.5% ownership of the €1.5 billion Ireland-based media company, and has led the company for the past 36 years. He said he will continue to support the company in his role as president emeritus.

March 4, 2009

Qualcomm, the family-controlled wireless communications company, has announced that co-founder Dr Irwin Mark Jacobs is to step down from his position as chairman with immediate effect.

Qualcomm, the family-controlled wireless communications company, has announced that co-founder Dr Irwin Mark Jacobs is to step down from his position as chairman with immediate effect.

Although continuing to serve as a board member, he has ceded his position at the helm to his son Dr Paul E Jacobs (pictured), who has served as CEO for the past two years. During his time at Qualcomm, Paul has held numerous engineering and leadership positions, and has led the company's focus on enabling wireless data services.

February 26, 2009

The surprise announcement of the departure of Rupert Murdoch’s right hand man earlier this week is not only a blow to News Corporation’s immediate future, it also poses more questions about the 77-year-old media mogul’s succession plan.

The surprise announcement of the departure of Rupert Murdoch's right hand man earlier this week is not only a blow to News Corporation's immediate future, it also poses more questions about the 77-year-old media mogul's succession plan writes Marc Smith.

February 11, 2009

Fashion chain Hennes & Mauritz has appointed third-generation family member Karl-Johan Persson as the company’s new CEO effective from 1 July this year.

Fashion chain Hennes & Mauritz has appointed third-generation family member Karl-Johan Persson as the company's new CEO.

Karl-Johan will become one of the youngest CEOs of a global brand when he starts his new role on 1 July aged just 33. The grandson of the founder and son of the current chairman will replace Rolf Eriksen who is retiring.

January 22, 2009

The founding family of Japanese motor manufacturer Toyota has two reasons to celebrate this week.

The founding family of Japanese motor manufacturer Toyota has two reasons to celebrate this week. Akio Toyoda, grandson of the car company’s founder, was confirmed as its new president on Tuesday while yesterday Toyota claimed the title of world’s biggest carmaker.

As expected, Toyoda (pictured) was entrusted with the top job even though it comes just six months after he was promoted to the role of chairman board of directors of Toyota’s European arm. It caps a rapid rise for the 54-year-old, who first joined the company in 1984.

January 19, 2009

Shoichiro Toyoda, the honorary chairman of Toyota Motor Corp, is expected to resign this year according to Japanese media reports, suggesting an ownership transition is taking place within the founding family.

Shoichiro Toyoda, the honorary chairman of Toyota Motor Corp, is expected to resign this year according to Japanese media reports, suggesting an ownership transition is taking place within the founding family.

The 83-year-old’s father, Kiichiro Toyoda, founded the motor company while his grandfather Sakichi Toyoda is credited with starting the Toyota dynasty.

Shoichiro joined the business as a director in 1952, served as president between 1982–1992 and has been honorary chairman since 1999.

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