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 Chair for Sustainable Family Business and Entrepreneurship, Academic Director of the STEP Project Global Consortium, IPAG Business School, France, Albert E. James, Associate Professor, Rowe School of Business, Dalhousie University, Canada and Georges Samara, Suliman S. Olayan School of Business, American University of Beirut, Lebanon

• Contents:Foreword by Pramodita Sharma xviiForeword by Daniel Trimarchi xixAbout the STEP Project Global Consortium xxiAcknowledgments xxiii1 Family firms across the world: succession and governance ina disruptive era 1Nupur Pavan Bang, Georges Samara, Rodrigo Basco, AndreaCalabrò, Jeremy Cheng, Luis Díaz-Matajira and Albert E. James2 Family business case learning: how to maximize learnings from thisSTEP project global casebook 10Jeremy Cheng, Andrea Calabrò, Luis Díaz-Matajira, Nupur PavanBang, Rodrigo Basco, Albert E. James and Georges SamaraPART I CONFLICTS, SUDDEN DEATH AND SUCCESSION3 Aborted succession: we need both succession and retirement plans 21Miruna Radu-Lefebvre and Ameline Bordas4 Mending the fence before the family fell apart: succession in theShampoo family 28Kavil Ramachandran and Nupur Pavan Bang5 The silence before the storm: intragenerational conflict for succession 37Özlem Yildirim-Öktem and Irmak Erdogan6 Lessons learned from being NextGen 47Peter Klein and Stefan Prigge7 Florax Group: when unintended succession leads to unfulfilled promises 55Rosemarie Steenbeek, Judith van Helvert and Jolanda D.A. Knobel8 Succession turnaround at the Avendorp Group: a true family tragedy 63Daniël Agterhuis, Julian van den Akker and Judith van HelvertPART II GOVERNANCE FOR TRANSITION PLANNING9 Valuing our values: family values driving business success 73Eric Clinton and Stephen Browne10 Time to hang up the boots? 82María Jesús Hernández-Ortiz, Francisca Panadés-Zamora,Myriam Cano-Rubio and Manuel Carlos Vallejo-Martos11 A woman at the helm: growth and succession at Inversora Lockey C.A. 90Nunzia Auletta and Patricia MonteferrantePART III UNCONVENTIONAL WISDOM IN UNUSUAL TIMES12 “Should I stay or should I go?”: Filipe de Botton’s dilemma 102Alexandre Dias da Cunha and Remedios Hernández-Linares13 Can I retire? An early successor’s dilemma 113Dalal Alrubaishi14 Which family prevails during divorce and succession? The WagnerAvila case 121Luis Díaz-Matajira and Stefano Wagner15 “Chemical reaction”: choosing a successor in a mosaic family 129Elena Rozhdestvenskaya16 Clease’s Auto: how a global pandemic allowed a family to maintaintheir family business legacy 138Elizabeth Tetzlaff, Brittany Kraus and Albert E. James17 The Ricci Durand family in the COVID-19 pandemic 144Carmen Pachas Orihuela, Antonio Martínez Valdez and CésarCáceres DagninoPART IV RISING-GENERATION LEADERSHIP IN ONGOING DISRUPTIONS18 Pineola Nurseries: family business succession under fire 153Steve Gaklis19 DC International: riding out of disruption as a third-generation successor 161Marshall Jen, Jeremy Cheng, Kevin Au and Kelly Xing Chen20 Am I ready for this? 169Andrea “Ginny” Santiago21 Universal Cement Corporation: doing “one thing at a time” in thecrisis of multiple needs? 177Yi-Chun Lu, You-Fong Wu and Hsi-Mei Chung22 Conclusion: the lessons learned 184Rodrigo Basco, Albert E. James, Nupur Pavan Bang, AndreaCalabrò, Jeremy Cheng, Luis Díaz-Matajira and Georges SamaraIndex

‘Cases are a slice of life that offer a mirror into the life and work of a family enterprise. As the world changes so deeply these cases help us understand the unique ways that families are responding to the current time of crisis and upheaval. Incredible stories!'