Heirs grace Forbes forum
published : 28 Jun 2019 at 04:59
newspaper section: News
Heirs of billionaires and tycoons are warning of threats and challenges to digital disruption changes and workforce management when transferring operations from fathers to sons, according to Forbes Thailand Forum 2019.
Meanwhile, experts said family-owned businesses in Thailand still lack succession plans for heirs to continue business operations and recommended formulating the right mindset and building on family communications.
The forum at the Waldorf Astoria Hotel was titled "The Next Tycoons".
Thursday's forum gathered six speakers, that included members from the Chearavanont, Bhirombhakdi and Mahagitsiri families.
Piti Bhirombhakdi, director of Boon Rawd Brewery Group, said every company has to wake up to digital disruption and prepare for changes -- both from threats and opportunities.
Tanit Chearavanont, managing director of LOTS Wholesale Solutions, an arm of CP Group, said business managed by heirs should capture new business opportunities and adapt to new consumers' lifestyles.