NEW DELHI and BERLIN, March 10, 2011 /PRNewswire/ -- Egon Zehnder International announces the launch of a Family Business Advisory Practice which acknowledges the crucial role played by family business in driving economic activity around the world. Introducing the Practice to the public, the global consulting firm outlined the multiple governance and leadership challenges faced by family firms in sustaining and building a business over generations. In emerging markets in particular, many family firms are still being led by first generation entrepreneurs and face sensitive leadership and succession issues in a rapidly growing business environment. In Western economies, on the other hand, large, longstanding family firms are seeking greater formality to help them successfully separate family and business agendas.
Transition and talent management
Rajeev Vasudeva, co-leader of the new Practice and based in New Delhi, explains: "Founder transitions, succession planning, defining the role of the next generation and establishing the right family governance frameworks are key elements of our service." His fellow co-leader, Berlin-based consultant Jorg Ritter, highlighted the delicate and sometimes even emotional task of balancing family and business interests: "Successful succession planning should always include the best executives among family, but also non-family managers."
Balancing family and business
Welcoming the new Practice, Damien O'Brien, CEO of Egon Zehnder International, said: "Having served some of the world's finest family companies for decades, it is clear that building alignment within the family and across generations is the cornerstone of a successful family business." O'Brien reiterated the firm's intent to serve this important segment with renewed vigour and focus.
Partnership between Egon Zehnder International and The Family Business Network International (FBN-I)
O'Brien also announced that Egon Zehnder International is now the exclusive global alliance partner of the prestigious Family Business Network International (FBN-I) for the fields of Board Consulting, Succession, Leadership and Organizational Development. FBN-I, a non-profit-organization, is the world's leading family business organisation with more than 4,000 member firms across 45 countries (for more details see www.fbn-i.org).
For more information on Family Business Advisory, please visit www.egonzehnder.com/family-business-advisory .
For more information on Egon Zehnder International, please visit www.egonzehnder.com .
SOURCE Egon Zehnder International