Mariwala: Family businesses should limit each unit to one family member
Harsh Mariwala · Marico Limited founder on Sustainability, Growth and Hiring ft. Harsh Mariwala · Jul 19, 2021 · at 8:44
Harsh Mariwala, founder of Marico, shares his governance philosophy on resolving family business friction and multi-generation overlap.
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“When you have multiple family members, I'm not saying that model will not succeed, but there are complications because, you know, you, the ambition level, the different the way of thinking is different. And the relationships are very complex. You're related at one stage. You are also managing together. You are also owner together. So separating all this, especially in inter functional or inter generation issues adds to complexity, you know, and there is lack of openness because of respect and things like that. So we said that if you really have to operate on a merit basis, then it's better that only one family member is there in each business. And that also at the top.”
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