Word: tycooning
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...Even at companies with top-notch outside managers, maintaining the bloodline remains paramount. At Hong Kong's Hutchison Whampoa, tycoon Li Ka-shing has been among Asia's most adept at attracting external professional managers, but ultimately, observers believe he'll eventually pass on the chairmanship to his eldest son, Victor. "There's a history of trying to keep things in the family," says shareholder-rights activist David Webb in Hong Kong...
...ARRESTED. YOSHIAKI TSUTSUMI, 70, Japanese property tycoon once regarded as the world's richest man; on suspicion of insider trading and making false financial statements; in Tokyo. Tsutsumi developed a hotel-and-recreation empire out of his family's Seibu Railway business, but saw it shrink during the Japanese recession of the 1990s. Tsutsumi resigned as chairman of Seibu last year, and has admitted to falsifying records, although he and his lawyers have not commented on the case...
...when the collector is a design tycoon and lifestyle vendor like Lauren, the real question is how to avoid making the exhibition, which will run from March 6 to July 3, just another branding opportunity for his company. The MFA's answer is to confine Lauren mostly to a big wet kiss of an interview in the catalog, where he offers purring reflections on style, plugs his running shoes and tells us that fashion and automobiles make a perfect fit. In fact, the fashion show he just sent down the New York City catwalks was inspired by his cars...
François-Henri Pinault Jr. LUXURY TYCOON...
French executive François-Henri Pinault is following in the footsteps of his tycoon papa François. This month Pinault Jr., 42, was appointed chairman of the $22 billion luxury-goods and retail empire PPR, founded by Pinault Sr. in 1963. He takes over from Serge Weinberg, who led PPR's diversification into luxury goods with the purchase of the Gucci group in 2001. Though Pinault is the scion of France's third wealthiest family--which owns a 42% controlling interest in PPR--he has also headed several PPR units. Instead of the nickname Daddy's Boy, he has earned...