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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 23, 2014

The second-gen managing director of Singapore property developer City Developments Limited has announced he will step down next month to take up the role of deputy chairman.

The second-gen managing director of Singapore property developer City Developments Limited has announced he will step down next month to take up the role of deputy chairman.

Kwek Leng Joo, 60, has held the post since 1995, but now Grant L Kelley, the first non-family member to head the executive management team, will become the company’s first chief executive.

City Developments Limited (CDL) is one of the largest private developers in Singapore, and saw revenues of $3.4 billion (€2.5 billion) in 2012.

January 2, 2014

Italian family business Fiat has welcomed in the New Year by signing an agreement to purchase the remaining stake it does not already own in US carmaker Chrysler.

Italian family business Fiat has welcomed in the New Year by signing an agreement to purchase the remaining stake it does not already own in US carmaker Chrysler.

The $3.65 billion (€2.67 billion) agreement ends a stand off between Fiat, which is owned by family-controlled holding company Exor, and a retiree healthcare trust over the value of the company.

Veba, associated with the United Auto Workers union, argued its 41.5% stake was worth $5 billion, while Fiat said it was worth half that amount.

July 17, 2012

More and more family businesses are hiring outside chief executives. CampdenFB asks whether a family or non-family CEO is better.

Tempted to promote your son or daughter to the chief executive position? You shouldn’t, at least if you believe current research. Family-owned companies with a family member as chief executive are among the worst managed, says a 2012 international study. Another, by British academics at Leeds and Aberdeen Business Schools, found that a company’s operating performance increased after a family chief executive left. Yet another found the stock prices of listed family-controlled businesses reacted favourably to the appointment of a non-family chief.

July 26, 2010

Fuller, Smith and Turner PLC, the UK family-controlled brewer, has announced the promotion of a non-family head to run the business.

Fuller, Smith and Turner PLC, the UK family-controlled brewer, has announced the promotion of a non-family head to run the business.
 
Simon Emeny, currently managing director of the pub side of the business, will assume the new position of group managing director on 1 November.
 

March 30, 2009

The non-family CEO of PSA Peugeot Citroën has paid the price for the company’s poor performance after being sacked yesterday.

The non-family CEO of PSA Peugeot Citroën has paid the price for the company's poor performance after being sacked yesterday. Christian Streiff's contract was terminated by the France-based company's supervisory board, which is chaired by Thierry Peugeot.

Strieff, who took over the family-controlled organisation in February 2007, will be replaced by Philippe Varin on 1 June. Until then, Roland Vardanega, a member of the managing board, will act as interim Chairman.

April 3, 2008

Marilyn Carlson Nelson, chairman of the Carlson family business empire, has once more taken the hunt for a chief executive outside of the family circle, landing 25-year UPS veteran Douglas Anderson.

Marilyn Carlson Nelson (pictured), chairman of the Carlson family business empire, has once more taken the hunt for a chief executive outside of the family circle, landing 25-year UPS veteran Douglas Anderson.

Marilyn said that the recruitment process to hire a CEO for Carlson Wagonlit Travel (CWT), the travel management company, was a far-reaching affair that ended wiith the appointment of an external candidate – part of a growing trend at the firm.

January 9, 2008

Global travel, hotel, restaurant and marketing giant Carlson has appointed the firm’s first non-family CEO in its 70-year history.

Global travel, hotel, restaurant and marketing giant Carlson has appointed the firm's first non-family CEO in its 70-year history. Hubert Joly, current president and CEO of Carlson Wagonlit Travel (CWT), in which Carlson has a majority stake, will become the company's new CEO on 1 March 2008. He will succeed company co-owner Marilyn Carlson Nelson (pictured), who will continue as Carlson's chairman.

November 1, 2007

Choosing between tradition and innovation can be difficult for family-owned businesses that want to stay true to their values. John L Ward, Joachim Schwass and Colleen Lief explain that by embracing paradoxes, it is not necessary for firms to make this choice

Joachim Schwass is director of IMD's Leading the Family Business Programme.
John L Ward is The Wild Group Professor of Family Business at IMD.
Colleen Lief is former project manager of the IMD-LODH Family Business Research Center.

Choosing between tradition and innovation can be difficult for family-owned businesses that want to stay true to their values. John L Ward, Joachim Schwass and Colleen Lief explain that by embracing paradoxes, it is not necessary for firms to make this choice

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