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Enrique Soriano

THE WRITER IS EXECUTIVE DIRECTOR OF THE WONG + BERNSTEIN GROUP AND SERVES AS AN INDEPENDENT DIRECTOR FOR SEVERAL PUBLICLY LISTED FIRMS AND ULTRA-HIGH-NET-WORTH FAMILY ENTERPRISES

A distinct separation of duties in a family enterprise protects both the business and the family.

THE BROAD VIEW

Family businesses fail when members overstep their roles

The lines between shareholder, director and executive must be clear

In Asean, where many family businesses are transitioning from founder-led leadership to sibling partnerships, it is important to build strong governance foundations.

THE BOTTOM LINE

Why family enterprises must move from ‘paper boards’ to real boards

Without strong governance structures, the board becomes the stage for conflict

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