Geneva - Lombard Odier Darier Hentsch & Cie, one of the main firms of private bankers in Europe, and IMD, a world leader in executive development, have announced that they have conferred the 12th annual IMD - Lombard Odier Darier Hentsch Distinguished Family Business Award on the Japanese family business, Yazaki Corporation, in recognition for their outstanding success in blending family and business interests and their exemplary responsibility to their employees and society. The award winners were saluted at an evening celebrating the 12th annual IMD - Lombard Odier Darier Hentsch Distinguished Family Business Award on Friday, September 21, 2007 at an official ceremony in Berlin during the Family Business Network Summit by Thierry Lombard, a Senior Partner of Lombard Odier Darier Hentsch & Cie, Professor Peter Lorange, President of IMD, and Karl-Friedrich Scheufele Co-President of Chopard. The award, which is considered one of the greatest honors for a business family and is generously donated by Chopard, testifies to the dedication, global approach, and pronounced values of the winning family in their business endeavors.
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About the award
The 12th IMD - Lombard Odier Darier Hentsch Distinguished Family Business Award was presented in Berlin on the occasion of the 18th summit of the national chapters of the Family Business Network (FBN-I). This event is of great importance for family businesses throughout the world, whose contribution to industry is increasingly recognized by economic players and the markets. Excellence must be achieved in a number of criteria, such as exemplary corporate governance, a focus on family values, the involvement of multiple generations, and the clarity and sustainability of their social endeavors.
The aim of the event, which provides a unique platform for sharing best practices and analyzing the economic backdrop, is to promote family businesses by turning the spotlight on the exceptionally high standards they are capable of and the many forms they may take. "At today's ceremony, we are delighted to honor the enlightened leadership of Yazaki Corporation which is an inspiration to business families across the globe", announced Thierry Lombard, a Senior Partner of Lombard Odier Darier Hentsch & Cie.
About the winner
Yazaki Corporation, headquartered at Minato-ku (Tokyo), is a worldwide manufacturer of a wide range of automotive-related products and environmental systems, with emphasis on energy-related equipment.
It is a key player in the automotive industry, and with 30% global market-share, is proud to be the world's largest producer of wire harnesses. It is a multinational, multicultural entity with 169 subsidiaries and offices in 39 different countries.
Yazaki Corporation is a purely private and family-operated business. The Founder started the business in 1929. He was succeeded by his eldest son, Yasuhiko Yazaki, who took over the responsibility of heading the business at the age of 33, helped by his brother, Shinji Yazaki. For the past 30 years the two -- who are now respectively Chairman and President -- have led the company into the growth that made it #1 in its field. For FY 2005/06 (ended June 2006), the group registered worldwide sales of ¥ 1,271.2 billion, an increase of approximately 11 % year on year.
Yazaki Corporation has distinguished itself by its success in blending family and business interests and its responsibility to society and the environment. This is demonstrated by the company's research and development approach -- which seeks out society's needs and develops the best products to meet them -- and the company's strong corporate culture of responsibility for the happiness and development of its employees.
Yazaki has an employee shareholding program, runs a summer camp for employees' children, runs the renowned Adventure School for prospective employees and has a rehiring program for retired employees.
The business is operated according to the family's principles of fortitude, service-mindedness and foresight.
About the award partners
IMD
IMD is an independent, not-for-profit foundation located in Lausanne, Switzerland, and a world leader in the provision of management education for senior executives. The Institute has over 60 years' experience in developing the leadership capabilities of international business executives at every stage of their careers and offers innovative learning solutions either open to all or designed for the specific needs of individual companies. Recognized for its excellence, IMD's "Real World, Real Learning" approach helps executives and companies to sustain and increase their competitiveness at the global level. IMD has unique international experience in the field of management education for family businesses. Its flagship seminar "Leading the Family Business" has featured in the prospectus since 1988, and managers from more than 700 family businesses throughout the world have visited Lausanne to complete the program. Lausanne is considered the world capital of management education for family businesses, and is home to the head office of the Family Business Network (FBN), the only international association for family businesses. IMD is also home to the IMD - Lombard Odier Darier Hentsch Family Business Research Center.
Chopard
Known in the luxury goods industry for its watch and jewelry collections as well as its Haute Joaillerie and Haute Horlogerie creations, Chopard & Cie is a family business in the true sense of the term. Mr. Karl Scheufele is the Chairman of the group while his children Karl-Friedrich Scheufele and Caroline Gruosi Scheufele serve as Co-Presidents. One of the only family companies operating in its industry, Chopard currently employs a total of 1,650 people worldwide spread across four production sites, along with 12 distribution subsidiaries from New York to Singapore, and 100 boutiques worldwide. In Chopard's vertically integrated manufacture, all production phases take place in-house, in order to maintain total quality control over the
entire process and to ensure independence. As a result, its workforce includes 45 professions, all playing their important role at a specific stage of production. Given the wealth of know-how within Chopard, the company is naturally concerned with and involved in the survival of these artistic professions. Chopard therefore runs its own training center to ensure that today's apprentices will become the artisans who will perpetuate the traditions of tomorrow.
Lombard Odier Darier Hentsch & Cie
Rue de la Corraterie 11
1204 Geneva
www.lodh.com
Pasha Bakhtiar
Managing Director
Tel. +971 (0) 45 090 102
pasha.bakhtiar@lodh.com
Hwee-suan Ong
PanGulf PR, Dubai
Tel. +971 (0) 50 875 4977
hweesuan@batespangulf.com
Anne Plagnat
Media Relations
Tel. +41 (0)22 709 93 06
anne.plagnat@lodh.com
© Press Release 2007
