MANAMA: A seminar that will address issues related to ownership succession, management succession and leadership development is being organised by the Bahrain Family Business Association (BFBA).
The seminar, being held on Tuesday from 8pm at the The Ritz-Carlton Bahrain, will feature Saudi Arabia’s Olayan Group chairman Khaled Sulaiman Olayan and KPMG in Bahrain managing partner Jamal Fakhro as keynote speakers.
Khaled Olayan has been the chairman of Olayan Group since 2002, succeeding his father Sulaiman Olayan who established the Saudi conglomerate in 1947.
Khaled Olayan and his three daughters Lubna, Hayat and Hutham Olayan all sit on the board of Olayan Financing, the holding entity for the Olayan Group’s operations in the Middle East. He will talk about the experience of his company and the general preference in the region about the transfer of the company’s ownership to sons.
Mr Fakhro said he will shed light on the importance of expertise from outside the company to ensure continuation of the business into the second and third generation.
The seminar will be led by BFBA president Khalid Mohammed Kanoo, who has invited all members of the BFBA, business owners and interested researchers to attend.
“The issue of a smooth and orderly handover of the family business to the next generation is the basis of succession planning. There is now a growing call to achieve this handover in the lives of parents to supervise the delivery process from near and avoid conflicts that may arise when they leave the company,” said Mr Kanoo.
The organisation of the seminar is an important step towards diversification of events organised by BFBA and the services provided to members and non-members, he added.
It comes within the annual programme of the association, which is approved by the new board of directors and includes many events and activities, such as forums, seminars, training programmes, talk shows, conferences and media newsletters and will be successively implemented during the current year 2017.
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