{"id":92051,"date":"2025-10-30T10:59:35","date_gmt":"2025-10-30T10:59:35","guid":{"rendered":"https:\/\/businessschool.luiss.it\/?p=92051"},"modified":"2025-11-14T14:44:12","modified_gmt":"2025-11-14T14:44:12","slug":"strategy-ownership-and-governance-in-family-business-groups-the-angelini-case","status":"publish","type":"post","link":"https:\/\/businessschool.luiss.it\/en\/case-studies\/strategy-ownership-and-governance-in-family-business-groups-the-angelini-case\/","title":{"rendered":"Strategy, ownership and governance in family business groups: the Angelini case"},"content":{"rendered":"\n<figure class=\"wp-block-image alignleft size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"1000\" src=\"https:\/\/businessschool.luiss.it\/wp-content\/uploads\/2025\/07\/Strategy-ownership-and-fovernance-in-family-business-groups-the-Angelini-case.png\" alt=\"Strategy, ownership and governance in family business groups:\nthe Angelini case\" class=\"wp-image-93889\" style=\"width:376px;height:auto\" srcset=\"https:\/\/businessschool.luiss.it\/wp-content\/uploads\/2025\/07\/Strategy-ownership-and-fovernance-in-family-business-groups-the-Angelini-case.png 1000w, https:\/\/businessschool.luiss.it\/wp-content\/uploads\/2025\/07\/Strategy-ownership-and-fovernance-in-family-business-groups-the-Angelini-case-810x810.png 810w, https:\/\/businessschool.luiss.it\/wp-content\/uploads\/2025\/07\/Strategy-ownership-and-fovernance-in-family-business-groups-the-Angelini-case-450x450.png 450w, https:\/\/businessschool.luiss.it\/wp-content\/uploads\/2025\/07\/Strategy-ownership-and-fovernance-in-family-business-groups-the-Angelini-case-768x768.png 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/figure>\n\n\n\n<p class=\"has-medium-font-size\"><strong>Author: <\/strong>Alessandro Zattoni<\/p>\n\n\n\n<p><p style=\"display:none;\">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<\/p><\/p>\n\n\n\n<p><p style=\"display:none;\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/p><strong>Abstract:<\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size\">The Angelini Group is a large privately-owned Italian group. At the end of 2017 the Angelini Group had about 6,000 employees, located in 20 countries, and a turnover of \u20ac1.67 billion with a gross operating margin of \u20ac234 million. Table 1 shows the main Angelini Group business units. The Group is diversified and operates in various sectors: pharma, personal care\/consumer, machinery, beauty, wines and real estate. The pharmaceutical business accounts for 52% of turnover, personal care for 29%, machinery for 9%, beauty for 7%, wines for 2% and other activities (including real estate) for 1%. As he approaches the age of 70, Mr. Francesco Angelini \u2013 grandson of the founder and leader of the Group \u2013 reflects on the existing strategy, ownership and corporate governance structure. He intends to hand over the reins to the next generation after having designed a group and governance structure coherent with the size and the complexity of the Group.<\/p>\n\n\n\n<div style=\"height:18px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p><a class=\"button arr featured-links\" href=\"https:\/\/businessschool.luiss.it\/wp-content\/uploads\/2025\/07\/Zattoni_Angelini_TC-1.pdf\" title=\"\">Download Case Study<\/a> <\/p>\n\n\n\n<p><a class=\"button arr featured-links\" href=\"https:\/\/businessschool.luiss.it\/en\/strategy-ownership-and-governance-in-family-business-groups-the-angelini-case\/\" title=\"\">Request Teaching Notes<\/a><\/p>\n\n\n\n<p class=\"has-medium-font-size\"><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Author: Alessandro Zattoni<\/p>\n","protected":false},"author":5,"featured_media":93890,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"twitterCardType":"","cardImageID":0,"cardImage":"","cardTitle":"","cardDesc":"","cardImageAlt":"","cardPlayer":"","cardPlayerWidth":0,"cardPlayerHeight":0,"cardPlayerStream":"","cardPlayerCodec":"","footnotes":""},"categories":[1189],"tags":[1484,1540,1597,1741],"Master":[],"class_list":["post-92051","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-case-studies","tag-angelini-2","tag-governance-en","tag-strategy-en","tag-structure-en"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/businessschool.luiss.it\/en\/wp-json\/wp\/v2\/posts\/92051","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businessschool.luiss.it\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businessschool.luiss.it\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businessschool.luiss.it\/en\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/businessschool.luiss.it\/en\/wp-json\/wp\/v2\/comments?post=92051"}],"version-history":[{"count":6,"href":"https:\/\/businessschool.luiss.it\/en\/wp-json\/wp\/v2\/posts\/92051\/revisions"}],"predecessor-version":[{"id":95026,"href":"https:\/\/businessschool.luiss.it\/en\/wp-json\/wp\/v2\/posts\/92051\/revisions\/95026"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businessschool.luiss.it\/en\/wp-json\/wp\/v2\/media\/93890"}],"wp:attachment":[{"href":"https:\/\/businessschool.luiss.it\/en\/wp-json\/wp\/v2\/media?parent=92051"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businessschool.luiss.it\/en\/wp-json\/wp\/v2\/categories?post=92051"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businessschool.luiss.it\/en\/wp-json\/wp\/v2\/tags?post=92051"},{"taxonomy":"Master","embeddable":true,"href":"https:\/\/businessschool.luiss.it\/en\/wp-json\/wp\/v2\/Master?post=92051"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}