The 2013 CommonWealth Economic Forum (CWEF) was held on January 7-8 discussing a range of topics focusing on reinvigorating growth and strategic transformation in an era of slow economic growth worldwide. With PwC Taiwan as its strategic partner, the event brought together 30 political and economic leaders and executives of transnational organizations and 500 Asian top talents and business leaders from 8 countries.
PwC Taiwan Chairman Albert Hsueh was invited to speak on “Family Business Inheritance and Transformation” during the discussion of “Transformational Growth—Strategies and Organizational Management”. Albert’s raising of issues of inheritance and transformation faced by many global family businesses prompted extensive and heated debate. He stated that family businesses need to set up their highest level decision making bodies which deal with core issues and function as a communication platform. He also said that corporate governance practices, professionals, and the role of independent directors should be introduced to family businesses when they face complex decision making challenges caused by family relational factors.