Pentland looks outside family
Pentland Group, a third-generation British brand management and retail group that owns brands such as Speedo and Berghaus, has appointed a non-family CEO. Andy Long will step from his current role as COO and take over from Andy Rubin, a member of the founding family who has worked in the business for 23 years and been CEO for 16. Rubin will become chairman of the brand management division.
Qataris buying jeans brand?
The Qatari royal family is expected to become the new owner of Pepe jeans. Mayhoola for Investments, a vehicle owned by the former Emir of Qatar’s second wife Shiekha Mozah Bint Nasser Al Missned, is said to be willing to cough up over $800m for the Spanish fashion brand.
Francois Pinault, whose family-owned Kering luxury group owns brands such as Saint Laurent and Stella McCartney, has appointed Patricia Barbizet as CEO of auction house Christie’s. She has worked for Pinault since 1989, and since 1992 has headed up the family’s investment wing Artemis.
Education Wal-Mart style
Carrie Walton Penner, the granddaughter of Wal-Mart founder Sam Walton, says that she wants to pump even more of the family’s money into starting charter schools, controversial public-private partnerships. In an interview with Forbes she said that she believed that more money in the US education system would mean market forces improve all schools. The Walton family has spent $1.3bn on charter schools.
Dalian Wanda to IPO
Dalian Wanda, a 100% family-controlled property developer that has branched out into movie distribution, is hoping to list in Hong Kong in a flotation that could raise $3.9bn, valuing the group at $25bn. The group’s founder Wang Jianlin is said to be China’s second-richest man and also revealed this week that he is trying to buy large stakes in several Hollywood studios. His son is expected to inherit the business.