Family Business Case Studies Across the World

Edited by Jeremy Cheng, Researcher, Center for Family Business, The Chinese University of Hong Kong, Hong Kong, China, Luis Díaz-Matajira, Assistant Professor, Universidad de los Andes School of Management, Colombia, Nupur Pavan Bang, Associate Director, Thomas Schmidheiny Centre for Family Enterprise, Indian School of Business, India, Rodrigo Basco, Professor and Sheikh Saoud bin Khalid bin Khalid Al-Qassimi Chair in Family Business, American University of Sharjah, UAE, Andrea Calabrò, Professor of Family Business and Entrepreneurship, IPAG Business School, France, Albert E. James, Associate Professor, Rowe School of Business, Dalhousie University, Canada and Georges Samara, Assistant Professor, University of Sharjah, UAE

Contents:

Foreword by Pramodita Sharma xvii
Foreword by Daniel Trimarchi xix
About the STEP Project Global Consortium xxi
Acknowledgments xxiii
1 Family firms across the world: succession and governance in
a disruptive era 1
Nupur Pavan Bang, Georges Samara, Rodrigo Basco, Andrea
Calabrò, Jeremy Cheng, Luis Díaz-Matajira and Albert E. James
2 Family business case learning: how to maximize learnings from this
STEP project global casebook 10
Jeremy Cheng, Andrea Calabrò, Luis Díaz-Matajira, Nupur Pavan
Bang, Rodrigo Basco, Albert E. James and Georges Samara

PART I CONFLICTS, SUDDEN DEATH AND SUCCESSION
3 Aborted succession: we need both succession and retirement plans 21
Miruna Radu-Lefebvre and Ameline Bordas
4 Mending the fence before the family fell apart: succession in the
Shampoo family 28
Kavil Ramachandran and Nupur Pavan Bang
5 The silence before the storm: intragenerational conflict for succession 37
Özlem Yildirim-Öktem and Irmak Erdogan
6 Lessons learned from being NextGen 47
Peter Klein and Stefan Prigge
7 Florax Group: when unintended succession leads to unfulfilled promises 55
Rosemarie Steenbeek, Judith van Helvert and Jolanda D.A. Knobel
8 Succession turnaround at the Avendorp Group: a true family tragedy 63
Daniël Agterhuis, Julian van den Akker and Judith van Helvert

PART II GOVERNANCE FOR TRANSITION PLANNING
9 Valuing our values: family values driving business success 73
Eric Clinton and Stephen Browne
10 Time to hang up the boots? 82
María Jesús Hernández-Ortiz, Francisca Panadés-Zamora,
Myriam Cano-Rubio and Manuel Carlos Vallejo-Martos
11 A woman at the helm: growth and succession at Inversora Lockey C.A. 90
Nunzia Auletta and Patricia Monteferrante

PART III UNCONVENTIONAL WISDOM IN UNUSUAL TIMES
12 “Should I stay or should I go?”: Filipe de Botton’s dilemma 102
Alexandre Dias da Cunha and Remedios Hernández-Linares
13 Can I retire? An early successor’s dilemma 113
Dalal Alrubaishi
14 Which family prevails during divorce and succession? The Wagner
Avila case 121
Luis Díaz-Matajira and Stefano Wagner
15 “Chemical reaction”: choosing a successor in a mosaic family 129
Elena Rozhdestvenskaya
16 Clease’s Auto: how a global pandemic allowed a family to maintain
their family business legacy 138
Elizabeth Tetzlaff, Brittany Kraus and Albert E. James
17 The Ricci Durand family in the COVID-19 pandemic 144
Carmen Pachas Orihuela, Antonio Martínez Valdez and César
Cáceres Dagnino

PART IV RISING-GENERATION LEADERSHIP IN ONGOING DISRUPTIONS
18 Pineola Nurseries: family business succession under fire 153
Steve Gaklis
19 DC International: riding out of disruption as a third-generation successor 161
Marshall Jen, Jeremy Cheng, Kevin Au and Kelly Xing Chen
20 Am I ready for this? 169
Andrea “Ginny” Santiago
21 Universal Cement Corporation: doing “one thing at a time” in the
crisis of multiple needs? 177
Yi-Chun Lu, You-Fong Wu and Hsi-Mei Chung
22 Conclusion: the lessons learned 184
Rodrigo Basco, Albert E. James, Nupur Pavan Bang, Andrea
Calabrò, Jeremy Cheng, Luis Díaz-Matajira and Georges Samara

Index