Commentary: CDL's father-son feud exposes governance pain points in family businesses

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Commentary: CDL's father-son feud exposes governance pain points in family businesses - Channel News Asia

Quick Summary:

While family businesses often outperform non-family businesses in the longer term, generational succession doesn’t always translate to better leadership, says NUS corporate governance expert Mak Yuen Teen.

Family governance mechanisms such as a family constitution (which sets out the family vision, mission, values and policies regulating family members’ relationship with the business), family meetings, family assembly or forum, family office and family council may become necessary.

Some family businesses evolve to professional management with the family retaining control.