While the issue of succession normally focuses on fathers and their children, in some notable cases succession has initially passed from husband to wife.
A prominent example is the Holmes a Court family. The death of Robert Holmes a Court in 1990 led to his wife, Janet, becoming chairman of a sprawling business empire that was heavily in debt and in need of major restructuring.
The Heytesbury business survived that difficult period and is now regarded as a financially stable and smoothly-running business, mainly involved in beef and wine production.
Mrs Holmes a Court has also put in place board and management structures that should ensure the next succession is much smoother.
She shares the boardroom table with two of her sons, Paul and Simon, and three non-family members.
Paul joined the group in 1989, initially as managing director of Heytesbury Thoroughbreds, and was appointed chief executive of the parent company in 2001 at the age of 28.
His brother Simon, a non-executive director of the parent company, has worked in the technology field for a range of companies and currently works with Heytesbury Beef.
The other directors include Bob Baker, who is an executive director and heads the Vasse Felix winery business.
Non-executive directors are Michael Ashforth, from corporate advisory firm Gresham Partners, and Elizabeth Gaines, who preceded Paul as chief executive and is now based in the UK.
The Holmes a Courts’ eldest child Peter has previously been a director of family companies but is no longer involved, having sold his interest in Heytesbury in 2001 for a reported $30 million.
Peter’s business interests have included investment banking in New York and theatre production in London and his latest public venture was Australian Agricultural Company. As chief executive and a major shareholder, he led its stock market float in 2001, but resigned in June 2004.
