Bill Cummings: The Cummings Way

Christina R. Wing; Robert F. White; Michael  Norris

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Case | HBS Case Collection | May 2019

Bill Cummings: The Cummings Way

by Christina R. Wing, Robert F. White and Michael Norris

Abstract

In 2019, Bill Cummings, founder of Cummings Properties and Cummings Foundation and billionaire signer of the Giving Pledge, is winding down his roles at his company and foundation. How should the management move the company forward?

Keywords: real estate development; philanthropy; Family Business; Nonprofit Organizations; Philanthropy and Charitable Giving; Management Succession; Real Estate Industry; United States; Boston;

Language: English

Format: Print

40 pages

Educators Purchase

Citation:

Wing, Christina R., Robert F. White, and Michael Norris. "Bill Cummings: The Cummings Way." Harvard Business School Case 619-038, May 2019.

About the Authors

Christina R. Wing

Senior Lecturer of Business Administration

Technology and Operations Management

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View Publications »

Robert F. White

MBA Class of 1957 Senior Lecturer of Business Administration

Entrepreneurial Management

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Module Note | October 2019

Demystifying Families in Business: Module 3 - The Family Office

Christina R. Wing

Citation:
Wing, Christina R. "Demystifying Families in Business: Module 3 - The Family Office." Harvard Business School Module Note 620-048, October 2019. View Details

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Case | HBS Case Collection | September 2019

Sopra Banking Software: Can a French Fintech Succeed in the U.S.?

Christina R. Wing

Citation:
Wing, Christina R. "Sopra Banking Software: Can a French Fintech Succeed in the U.S.?" Harvard Business School Case 620-004, September 2019. View Details

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Case | HBS Case Collection | September 2019

It's All About Family: Esas Group

Christina R. Wing and Alpana Thapar

This case describes how Ali Sabancı and his sister Emine Sabancı Kamışlı, shareholders of Esas Group, one of Turkey’s largest family-owned investment firms, worked to grow and professionalize the business. While their father Şevket Sabancı, played an instrumental role in launching the group in 2000, he soon stepped back and let his children drive the business forward. In 2009, the first of the third generation of family members entered the business, prompting Ali and Emine to start putting formal processes in place for the onboarding and integration of the next generation. By 2019, the family office had several billion dollars of assets under management, diversified across various asset classes, both inside and outside Turkey. Emine’s two sons had recently entered the business. Ali and Emine’s biggest priority was establishing strong governance for the family office. They were taking several steps to professionalize the group and bring in more nonfamily members. Ali and Emine recognized that these actions would mean relinquishing certain privileges and freedom, somewhat shifting from their underlying ethos, which focused on protecting shareholders’ individual rights. Shareholders had been offered liquidity and treated like customers, having the option to invest elsewhere if they so desired. To date, the family members had kept their capital within the group. Would this continue to be the case in the future? How could they keep the family together and make sure everyone was financially satisfied? How could they ensure to continue growing the net worth of their assets?

Keywords: Family Business; Governance; Growth and Development Strategy; Turkey;

Citation:
Wing, Christina R., and Alpana Thapar. "It's All About Family: Esas Group." Harvard Business School Case 620-010, September 2019. View Details

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Bill Cummings: The Cummings Way

Abstract

Citation:

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