Family business leaders very often serve on one another’s boards. They not only share their experience but are also able to forge links with other important families in the international business world. In one such example John Elkann, 40, joined the board of the “new” News Corp as an independent, publicly-traded company following the separation of its businesses from 21st Century Fox in June 2013. Elkann happens to be the chairman and CEO of Exor S.p.A. — the holding company of the Agnellis, Fiat’s founding family
In a recent development Elkann, the fifth-generation chairman of Fiat Chrysler, has stepped down from the board of American media multinational News Corp. As per a News Corp statement, Elkann was leaving the board because of increased demands on his time at Exor and its largest investments, including FCA Group and Partner Re.
Some analysts argue that the move has been precipitated by developments in another part of the world. Incidentally, Samsungs third-generation executive Lee Jae-yong sits on the board of Exor. However, the 48-year-old South Korean, who is the eldest grandson of late Samsung founder Lee Byung-Chull, may soon have his hands full: the board of directors at Samsung Electronics this month nominated the next-generation executive to its board, a move that signals his likely succession. Hence it is very likely that he may move out of the Exor board very soon. This has most likely prompted Elkann to divert attention on his own board.
Source: Family Business Magazine