Perspectives from ISB

Continuing the family legacy, Carlos Slim, head of one of the world’s largest family business empires has brought two of his grandchildren on the boards of group companies. Daniel and Rodrigo, both in their early 20s, are sons of Slim’s eldest daughter Vanessa. Daniel has been appointed to the board of Minera Frisco, a publicly traded metal mining company of the group. Rodrigo has been appointed to the board of Soinmob Inmobiliaria Espanola SA, the group’s Spanish real estate arm.

This move is a part of the larger succession plan. Slim had earlier placed his three sons in key leadership positions in various group firms. Though inclusion of family members in business boards is a common practice at family firms, Bernard Black, a professor at Northwestern University said at board appointments at such a young age was unusual. However, the move did not surprise those who know the group closely. Slim had also brought in his children on business boards when they were in their 20s.