For many business families, a family office takes shape before anyone calls it one. Dividends accumulate, a division is sold and the family holding company builds a portfolio beyond its stake in the operating business. Eventually, that wealth requires its own resources, people and decisions. Pontegadea offers a well-known example. Created in 2001 to reinvest […]
Four rooms, four matrices: choosing the right tools for change in family business
Family businesses are rarely at a loss for tools. They can establish a board of directors, redesign incentives, bring in an outside CEO, draft a family protocol, convene a family council or call in a mediator. The real challenge lies elsewhere: how do you know which tool to use, where to use it and when? […]
The “surname ceiling” holding back family companies
Why do some professionals hesitate to join family businesses? This Financial Times article explores how family-owned firms compare with non-family companies as employers, drawing on key insights from the 2026 IESE-ECGI Corporate Governance Conference, held at IESE’s Madrid campus in May. The “surname ceiling” holding back family companies
The ownership dimension of succession
Four siblings. Third generation. Twenty years ago, their father divided the shares in four equal parts: 25% each. It seemed fair at the time, and he wanted to keep peace in the family—and at first, he got his wish. But now the business is confronted with a major strategic decision: entering a new market, refinancing, […]
The four pillars of succession
John walked into the corner office. He had just been named CEO a week earlier, following his father’s unexpected death. He had spent twenty years working alongside him, preparing for that moment. He was the designated successor. And yet, sitting in that chair for the first time, he realized he had inherited the title, the […]
Heterogeneity in family businesses: 5 key concepts
Family businesses are the backbone of many local and global economies as drivers of both employment and economic stability. However, categorizing them as a single, uniform group limits our understanding of the numerous complexities and nuances among them. Far from a homogeneous collective, family-owned firms can differ in fundamental ways that shape their governance, strategic […]