• Service: Enterprise, Family business
  • Type: Business and industry issue, Video
  • Date: 4/9/2014
  • Length: 10:20 Minutes

Christophe Bernard on Family Governance and Succession in Sri Lanka 

Family Governance and Succession in Sri Lanka
Christophe Bernard recently featured on MTV Sports, Sri Lanka’s first privately owned television Channel, discussing Family Business governance and succession. Over the past couple of years Sri Lanka has witnessed outstanding economic development – Growth in gross domestic product (GDP) has rebounded to 7.3% in 2013.

Family business is a common concept in Sri Lanka and on the 21st of March, a KPMG organized Family Business Conference, gathering over one hundred participants, showed the great awareness of Sri Lankan Family Businesses on matters such as governance and succession. Beyond their enthusiasm for Family business related issues Sri Lankan Family Businesses are playing a significant part in the impressive recovery of the domestic economy.

Decision making in Family Businesses is typically done in an informal manner. However, as Christophe Bernard states, the real problem for Sri Lankan family-run businesses – and for Family Businesses in general – is the lack of proper governance structures and succession planning. This means many Sri Lankan Family Businesses struggle to maintain family ownership and find it tough to survive over time.

Throughout this interview, Christophe Bernard reviews the major Family Business concepts and explains KPMG‘s approach of Family Business: improving business performance and firm value through transparent corporate governance structures and effective succession planning.

Christophe Bernard

Christophe Bernard
I am a KPMG partner based in the French firm’s Paris office, responsible for encouraging the growth of our firms’ middle markets practice across Europe, Middle East and Africa, a majority of that market comprises of family businesses.

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