Merck KGaA Receives Family Business Excellence Award
Merck KGaA announced , that the company received the 14th annual IMD - Lombard Odier Global Family Business Award. The IMD - Lombard Odier Global Family Business Award was presented in Amsterdam on the occasion of the 20th summit of the Family Business Network-International (FBN-I). The award recipient must achieved excellence in a number of criteria, such as global business scope, exemplary corporate governance, the involvement of multiple generations, and the clarity and sustainability of its social endeavours.
The Merck Group impressed the jury with four main factors:
- the long duration of its family's ownership - 341 years and 12 generations - and the ability to successfully overcome virtually all potential threats by using the opportunities of change;
- its courage and pioneering spirit translated into successful innovation management;
- its strong family values and focus on the younger generation with bonding activities to establish an owner identity as well as education processes to become responsible shareholders;
- the separation of the spheres of influence and governance between operating responsibility outside the family and supervisory bodies that are family-controlled.
“Merck, the world's oldest pharmaceutical and chemical enterprise, is an extraordinary example of long-term leadership which has adapted to geopolitical changes and competitive global environment over 341 years and 12 generations. Their harmonious balance of family values, exemplary governance and business performance drives their long-term success", said IMD President John Wells
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