Family Business in Kuwait: Moving to the Next Stage

Garry Walsh, CEO of Mezzan Holding, one of the largest diversified conglomerate in Kuwait, believes that the family businesses in Kuwait are the first stage of becoming multinational companies. As a major challenge for the future Walsh identifies the “transfer from generation to generation. Because if you look at most of the family-owned businesses in Kuwait – the large ones –, they’re in the second generation and are coming to the end of it. Really, that transition from the second generation to the third and then the world, as being-run businesses fall apart. The rule of thumb is: the first generation makes, the second generation maximises and the third generation loses.” 

Interview:

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