ISSUE 73 / 2018
ROCK SOLID
Hotel heiress Mita Vohra is thinking outside the jewellery box
EXCELLENCE IN FAMILIES
Who has been nominated for the European Families in Business Awards 2018?
HIGH SPIRITS
Pernod Ricard’s debonair next-generation leader on winning mindsets and a culture of innovation
Editor Nicholas Moody
Deputy Editor James Beech Senior Writer
Alexandra Newlove
Art Director Elisa Barbata Contributors
Daniel Bardsley Peter Crush
Scott McCulloch
Executive Director, Sales Kevin Grant
T: +44 (0)20 3763 2804 Sales Team
Owen Hart
Laurence Mackintosh Andrew Tappin
Chief Executive
Dominic Samuelson Published by
Campden Wealth Ltd 30 Cannon Street
London EC4M 6XH, UK T: +44 (0)20 3763 2800 F: +44 (0)20 3763 2801 E:
fb@campdenwealth.com
For subscriptions please call +44 (0)20 3763 2800 or go to
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ISSN: 2040-8900 Printed in the UK by Stephens & George Print Group
Copyright © Campden Wealth Ltd 2018 The contents of this publication are protected by copyright. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means without prior written permission of Campden Wealth Limited. The views expressed in this publication are not necessarily those of the Publisher or any of its employees or agents. While the aforementioned parties have taken every care with regard to the accuracy of all editorial and advertisement material, they cannot be held responsible for any errors or omissions contained therein.
I ISSUE 73 | 2018
f your family governance procedures were a cyclist, what would it look like? Would it be a honed Tour de France racer constantly checking in with its coach, team leader, and support staff as part of a well-crafted plan? Or would it be ambling along a quiet country lane without a map, but with a vague sense that you
were going in the right direction? Like a bicycle, good governance provides a solid framework to channel innovation, entrepreneurship and drive to keep sustaining families. It is often the hidden ingredient in successful multigenerational enterprises— which is why this issue looks at governance, in its various makes and models. What does good governance look like to Alexandre Ricard, the third-generation chief executive of Pernod Ricard? From page 10, he tells how he was initially turned away from the family business as a youngster then faced the board’s selection process when applying to be its chief executive. “It was a normal part of good governance and the role of the board was to ensure the right chief executive was chosen—one who is up to the job,” he tells us. This is followed by Feisal Alibhai’s intensely personal story on how he overcame the Asian fi nancial crisis, terminal cancer, and separation to embrace change outside his family’s multinational enterprise. We return to examine why prominent Nordic families, including the Wallenbergs, favour industrial foundations from page 24, and consider all the factors when deciding whether to build a supervisory board on page 44.
Do you need a burst of female innovators? Our NXG section starts on page 35 with hotelier- turned-jeweller Mita Vohra and adviser Mairi Mikel, before we outline a talented group of next-generation rising stars, including Verena Bahlsen, as part of European Families in Business Awards special from page 50. Innovation is alive and well at CampdenFB too, as we launch our new section on page 68. Called Capital Hub, it is designed to keep multijurisdictional families up-to-date with all the latest tax and legal changes globally. We round out the innovation focus and the edition on page 78 with a look at how the world’s largest family-controlled car makers are dealing with industry disruption in Leading Edge. Ride on!
Nicholas Moody Editor
nicholasmoody@campdenwealth.com
CAMPDENFB.COM 1 FROM THE EDI TOR RIDE ON
LIKE A BICYCLE, GOOD GOVERNANCE PROVIDES A SOLID FRAMEWORK TO CHANNEL INNOVATION, ENTREPRENEURSHIP AND DRIVE TO KEEP SUSTAINING FAMILIES
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