Research shows that large family businesses had much better succession practices than their nonfamily counterparts, and they outperformed on several measures after new appointees took the reins.
Family offices have existed for generations and there are more now than ever before. With the market growing and changing, the question of talent acquisition and company growth is front of mind for family offices.
Egon Zehnder Consultant Sonny Iqbal and Alum Claudio Fernández-Aráoz on four imperatives family businesses can stay true to that will create opportunities to leapfrog their competitors. Read more on HBR.
As family businesses diversify, fewer owners have a holistic view of all assets. A new Shared Family Capital Strategy created by PwC, Egon Zehnder, and the John L. Ward Center for Family Enterprises helps businesses maintain the connection between the capital and the mission and values of the family.
The Sustainability Board Report sat down virtually with German Herrera of Egon Zehnder to better understand the dynamics of family business and their approach to sustainability.
Family company Boards must create and maintain strong succession plans that consider both internal and external talent, as well as development plans for potential successors—and do all this while balancing the values and priorities of the family with the demands of growing and sustaining a business.
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