With the support of the Board of Directors and FBCG founding members, we have built an organisation capable of effectively addressing the challenges of GCC family businesses.
We welcome our new Chairman to continue this journey, and we wish him all the best in shaping the future of FBCG."
span lang="EN-GB">Authored by Fadi Hammadeh, Senior Advisor to FBCG and General Counsel of Al-Futtaim group, the book, Family Business Continuity in the Middle East & Muslim World: Betting Against the Odds, addresses the challenges of family business succession planning in the region and how to strategically plan for sustainable business continuity.
Studies by FBCG state that around 52 per cent of GCC businesses are moving from their second to third generation, facing the critical juncture of transition of ownership and business leadership.
Studies by FBCG
state that around 52 percent of GCC businesses are moving from their second to third generation, facing the critical juncture of transition of ownership and business leadership.
Hind Bahwan, Omani board member of the FBCG
, said: 'Family businesses contribute about two thirds of the GCC region's GDP, in addition to their roles in bringing long-term economic stability to each country.'
The panel discussion was hosted by Al-Zayani Group, a FBCG
Abdulaziz Al-Ghurair, chairman of FBCG
, said: "The upcoming event is unique for bringing speakers from successful family businesses from around the GCC and internationally.
Based on research completed by FBCG
, in collaboration with Mckinsey, only 32 per cent believe they have clarity on the roles and responsibilities of family members in the family business.
"We believe that each family business has its own secrets to success, but we also believe that families can inspire each another on ways to regenerate their own formula to success" He added, "By tailoring the summit agenda around real-world case studies and success stories, we aimed to provide families with practical insights that they can learn from and incorporate in order to better address the challenges of growth, business model evolution and generational transition," HE Abdulaziz Al Ghurair, Chairman of FBCG
On the sidelines of the event, Chairman of FBCG
, His Excellency Abdulaziz Al Ghurair, stated that Family Operated Businesses (FOBs) play a crucial role in GCC economies.
Chairman of FBCG
, His Excellency Abdulaziz Abdullah Al Ghurair, said, "Governance within family businesses is increasingly becoming a necessity as organisations evolve and grow.