AUB Mediterraneo to host public conference on family businesses

Cyprus family businesses face the succession test as Paphos conference brings generations together The future of family-owned businesses in Cyprus, and particularly the difficulties of passing them from one generation to the next, will take centre stage at a public conference hosted by AUB Mediterraneo in Paphos on November 6. The discussion comes as succession remains one of the most pressing challenges facing family enterprises, with a 2025 analysis by KPMG Cyprus finding that only 30 per cent of family businesses successfully pass to the second generation, while just 10 to 12 per cent survive to the third. Beyond the question of who takes over, however, the challenge also involves preparing future leaders, introducing professional management practices and maintaining the relationships and values on which these businesses were built. These issues will be explored during The Development of Family Businesses, a conference bringing together academics, company founders, next-generation executives and professionals working within family-owned enterprises. Organised by the American University of Beirut – Mediterraneo, the event will examine how family businesses develop, what can prevent their continued growth and how different generations approach leadership and decision-making. The programme will begin with an address by Alain Daou, Dean of the university’s Faculty of Business, followed by a presentation from Panikkos Poutziouris, Visiting Faculty and Professor of Entrepreneurial Management at the European Institute of Management and Finance (EIMF). His presentation, entitled “How Do Owner-Managed Family Businesses Develop – or Derail?”, will examine the factors influencing the development and long-term survival of family enterprises. The discussion will then move from academic analysis to practical business experience, with three speakers offering perspectives from different stages and positions within family companies. Lisa Nemitsa Petevi, founder-president of L. Nemitsas Ltd, will discuss the founder’s perspective, while Thanos Michaelides, CEO of Thanos Hotels and Resorts, will address the experience of the next generation taking on leadership responsibilities. Meanwhile, Bilal Zein, Head of Single-Family Office at Averda Group, will offer a different perspective, examining the role of professionals who are not members of the owning family. Together, their contributions will explore the relationship between family ownership and professional management, as well as the different expectations that can emerge as businesses grow and leadership changes hands. The presentations will be followed by a panel discussion chaired by Daou, giving participants the opportunity to question the speakers, share experiences and discuss challenges encountered within their own businesses. The conference also comes as AUB Mediterraneo continues to expand its business education activities in Cyprus. Its Faculty of Business has become the first business education institution in Cyprus to receive EQUIS accreditation from EFMD, an international accreditation body for business and management education. The event will take place at the AUB Mediterraneo Auditorium in Paphos on Friday, November 6, from 10am to 2pm, with registration beginning at 9.45am. Attendance is free and open to the public, including family business owners, future business leaders, professionals and students. The conference will be conducted in English and will conclude with lunch and networking. Those interested in attending are requested to complete the registration form by November 2.