Kuwait City, 29 May 2024 – GLA & Co., in collaboration with PwC, proudly hosted a highly successful Family Business Law Seminar today in Kuwait City, focusing on the unique dynamics and challenges faced by family businesses in Kuwait and the GCC. The event brought together prominent business owners and executives to discuss critical issues in governance, succession planning, and business structuring.

The seminar began with an opening speech by Mr. Nader Al Awadhi, Senior Partner at GLA & Co., who emphasized the vital role family businesses play in the economic development of the GCC region. He highlighted the importance of robust governance frameworks, meticulous succession planning, and strategic business structuring to ensure the sustainability and growth of family-owned enterprises.

The seminar featured guest speaker Fahad Al Ghanim, Chairman of Ali Alghanim Sons Automotive Company KSCP. Mr. Al Ghanim shared the family’s journey in restructuring its business, providing attendees with firsthand insights into the challenges and strategies involved in modernizing and expanding a family-owned enterprise.

The seminar featured engaging panel discussions and interactive sessions moderated by Alex Saleh, Managing Partner, GLA & Co and included panel experts, from GLA & Co, Yousef Al Amly, Partner, Mohamed Al Awadhi, Senior Associate along with PwC expert Ismail Hajjar. The panel discussed issues including establishing transparent governance practices, effective succession planning, and balancing family dynamics with operational efficiency and strategic growth.

“Family businesses are the cornerstone of economic activity in the GCC, contributing significantly to the region’s growth,” said Mr. Al Awadhi. “Our seminar aimed to provide valuable insights and practical strategies for navigating governance, succession planning, and business structuring.”

Managing Partner Alex Saleh of GLA & Co. commented, “We are thrilled with the turnout and the level of engagement at today’s seminar. Family businesses are integral to the economic fabric of the GCC, and it is crucial that they are equipped with the knowledge and tools to navigate their unique challenges. Through this seminar, we aimed to create a platform for meaningful dialogue and the exchange of best practices.”

A significant focus was on preparing the next generation of family business leaders. Speakers underscored the importance of equipping successors with the necessary skills and values to preserve the founder” legacy while driving the business forward.

GLA & Co. is renowned for its strong regional presence and integrated international network, providing seamless, strategic advice across the Middle East. Combined with PwC’s extensive expertise, the seminar offered attendees comprehensive legal and business insights.

The Family Business Law Seminar was a resounding success, providing a platform for knowledge exchange, networking, and exploring innovative solutions to the challenges faced by family businesses in the GCC.

For More information about Family Businesses, please contact our Senior Partner, Mr. Nader Al Awadhi, (nader.alawadhi@glaco.com) or our Managing Partner, Alex Saleh (alex.saleh@glaco.com)