Fin24

Ackerman, Rupert in top family business list

2012-03-07 07:37

Johannesburg - Two leaders of South African family businesses have made an international list of the top 50 leading family-led companies, according to a report on Wednesday.

Chairperson of Pick n Pay Stores [JSE:PIK] Gareth Ackerman and CEO of Richemont [JSE:CFR] Johann Rupert were on the list compiled by Campden FB/Ernst & Young, Business Report said.

They were selected from over 200 business leaders worldwide based on how crucial they had been to the successful running of the business in the past five years.

Criteria also included how much they had contributed to the profitability of the business, that the family controlled at least 25% of the company's decision-making rights, and that the family in control was at least in its second generation.