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Definition

A holding company which is currently owned and controlled by a single family. There are many such companies listed on the JSE. Here a company is started by an entrepreneur and then grown over many years into a sizeable listed concern with multiple subsidiaries. Perhaps the best example is Anglo American which was controlled and run by the Oppenheimer family for decades. Current examples on the JSE include Dischem which is controlled by the Saltzman family. Family dominated companies sometimes have problems with transitioning to professionally managed groups. Pick 'n Pay had difficulties when Raymond Ackerman finally retired and they went through a number of CEO's before they found strong competent leadership in the form of Richard Brasher. Brasher has now retired and repalced by Pieter Boone in April 2021. A strong succession plan is something to look out for in a family group.

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