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February 13, 2015

Leadership has been passed on to a non-family executive this week in a surprise announcement at Canadian family business Bombardier, as the company posts a big loss for the fourth quarter.

Leadership has been passed on to a non-family executive this week in a surprise announcement at Canadian family business Bombardier, as the company posts a big loss for the fourth quarter.

Pierre Beaudoin, grandson of the company’s founder, has been chief executive of the Montreal-based aerospace company since 2003, but on Thursday announced he was stepping down to make way for Alain Bellemare, a former United Technologies Corp (UTC) executive.

September 25, 2014

A UK family office is tipped to buy British airline Monarch and turnaround the struggling company.

A UK family office is tipped to buy British airline Monarch and turnaround the struggling company.

Greybull Capital is the preferred bidder to buy the company, whose profits for the last year sat at £5.9 million, while previous year the company made a loss of £33.4 million.

It is majority owned by Swiss-Italian family the Mantegazzas.

Already staff at the airline have a agreed to a 30% pay cut to secure the airline’s future, and a further 900 workers look set to lose their jobs.

September 14, 2011

Israel’s Ofer family has expressed relief after US authorities removed family business Ofer Holdings Group from a list of targeted companies.

Israel’s Ofer family has expressed relief after US authorities removed family business Ofer Holdings Group from a list of targeted companies.

A statement issued by the US state department on 14 September said it will withdraw sanctions against the family-owned industrial conglomerate, which had been accused of alleged trading with Iran.

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