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Succession

October 8, 2014

The billionaire founder of Europe’s largest shoe retailer, Heinz-Horst Deichmann, has died in Essen, Germany, at the age of 88.

The billionaire founder of Europe’s largest shoe retailer, Heinz-Horst Deichmann, has died in Essen, Germany, at the age of 88.

A keen philanthropist who had an estimated net worth of $4.2 billion (€3.3 billion), Deichmann transformed his father’s cobblers business into the best-known footwear seller on in Europe, with estimated sales of $6 billion in 2013.

September 11, 2014

Fourth generation Ana Botin has become the most powerful woman in European banking, following her unanimous appointment to the head of Banco Santander.

Fourth generation Ana Botin has become the most powerful woman in European banking, following her unanimous appointment to the head of Banco Santander.

The decision by the board of directors came less than 24 hours after the death of her father Emilio Botin, 79, who suffered a heart attack on Tuesday evening.

September 5, 2014

The daughter-in-law of Advance Publications president Donald Newhouse has been promoted president of global development at its magazine company Conde Nast International.

The daughter-in-law of Advance Publications president Donald Newhouse has been promoted president of global development at its magazine company Conde Nast International.

The appointment answers speculation about what role she would take in the family empire after trade publications division Fairchild Fashion Media, where she had been president and chief executive since 2010, was sold to Penske Media Corporation in August for $100 million.

September 3, 2014

The last member of the family that owned US newspaper Washington Post for eight decades, before its sale to Amazon founder Jeff Bezos last year, is to step down as publisher of the former family business by the end of this month, the company has this week revealed.

The last member of the family that owned US newspaper Washington Post for eight decades, before its sale to Amazon founder Jeff Bezos last year, is to step down as publisher of the former family business by the end of this month, the company has this week revealed.

Katharine Weymouth had been part of the business, bought by her great-grandfather in 1933, for 17 years and had been in her current role as chief executive and publisher for seven years.

August 22, 2014

The future of Luxottica’s non-family chief executive is up in the air due to reported tension with the family-owned firm’s founder over the strategic direction of the company.

The future of Luxottica’s non-family chief executive is up in the air due to reported tension with the family-owned firm’s founder over the strategic direction of the company.

Luxottica, which has annual revenues of €7.3 billion, includes brands such as Oakley, Ray-Ban and Oliver Peoples among its empire. It also has over 7,000 retail outlets operating under different banners including Sunglass Hut and OPSM.

August 8, 2014

An expert on inclusivity and diversity in business has praised the leadership of a father who, having openly rejected his daughter’s sexuality in the past, has now announced he would like her to succeed him at the helm of the family-controlled Hong Kong property empire.

An expert on inclusivity and diversity in business has praised the leadership of a father who, having openly rejected his daughter’s sexuality in the past, has now announced he would like her to succeed him at the helm of the family-controlled Hong Kong property empire.

This week, Cheuk Nang chairman Cecil Chao announced he wanted his daughter, Gigi, to become vice chairwoman of the family business, and would be taking his proposal to next month’s board meeting.

August 6, 2014

Indian motorcycle manufacturer Hero MotoCorp, owned by the Munjal family, has elevated second-gen Pawan Munjal to the role of vice chairman, clarifying the family’s succession plans.

Indian motorcycle manufacturer Hero MotoCorp, owned by the Munjal family, has elevated second-gen Pawan Munjal to the role of vice chairman, clarifying the family’s succession plans.

The 59-year-old accepted the role at Hero MotoCorp this week – a move that many believe signals a forthcoming power shift wherein Pawan will soon succeed his father as chairman of the family business.

July 29, 2014

John Fellowes II has this month become the fourth generation to run his family’s eponymous office products company, following his father’s retirement.

John Fellowes II has this month become the fourth generation to run his family’s eponymous office products company, following his father’s retirement.

Based in Illinois, US, Fellowes Inc, started in 1917 as a supplier of office storage boxes, three years after the US passed legislation requiring businesses to keep written records for tax purposes.

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.

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