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Developing next generation leaders integral to successful family business

Developing next generation leaders integral to ...

Upcoming KPMG Middle East and South Asia Family Business Conference to focus on transition in family businesses and preparing the next generation of leaders

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Following the resounding success of its inaugural MESA family business conference in 2013, KPMG, the region’s leading professional services firm, will once again bring together key decision makers from family businesses in the GCC, the wider Middle East and south Asia to discuss ways of preparing the next generation for leadership.

Harish Gopinath, KPMG MESA’s head of family business and enterprise, welcomed the chance to host the conference, which will focus on next generation perspectives, family constitutions, talent development, wealth preservation, stewardship and the encouragement of entrepreneurship. “71% of decision makers at family owned businesses agree that continuing the family legacy is an important goal. Our event – on 31 October and 1 November – will bring together family business leaders from across the region and let them share perspectives, learn from others and get to grips with some practical steps to better prepare younger family members to take on leadership positions.”

Fawzi AbuRass, who heads KPMG’s family business practice in the UAE, said that it was hard to overstate the importance of family groups, who represent about 70% of the region’s economy. “Younger generation business leaders - especially those who are preparing to take on wider responsibilities – are focused on developing the skills and knowledge they need to grow and sustain their businesses. This will be an excellent forum to discuss ways family businesses can successfully deal with the new challenges of the new economy.”

Professor Randel Carlock, founding director of the Wendel International Centre for Family Enterprise and Professor in Entrepreneurial Leadership at INSEAD, is one of the keynote speakers. “Family businesses have two tools to improve business performance and protect family harmony: planning and communication. My work with business families around the world shows that, if we can help business families discuss their shared values and vision and then develop their plans, the family business will be successful.“

                                                   -ENDS-

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© 2017 KPMG, KPMG LLP and KPMG Lower Gulf Limited, registered in the UAE and member firms of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

The views and opinions expressed herein are the personal opinions of the interviewees and authors based on their personal experience working as Auditors in the industry and do not necessarily represent the views or opinions of KPMG International or any KPMG member firm.

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