IMD Global Family Business Award
Distinguishing prestigious family businesses around the world since 1996
This annual award provides a unique opportunity to promote the indispensable role family businesses play in the global economy and serves as a platform for family businesses to exchange best practices and analyze the economic backdrop.
The Award cannot exist without your active contribution to identifying exceptional companies worthy of recognition. Anyone can nominate a family business, and businesses can also nominate themselves.
Call for nominations and self-nominations open annually between February and March.
Criteria & process
The award recognizes family businesses with excellence on the following dimensions: family, business, ownership, and society.
Eligibility criteria are:
- Multigenerational (of at least third generation)
- Large (with an annual turnover of at least USD 0.5 billion)
- International
In selecting the award winner, a panel of independent jury experts examines further aspects of the family business.
Careful consideration is given to the values of the people who run the business, including the way in which they unite their family and business interests and combine tradition and innovation while demonstrating a clear commitment to their communities.
Award Prizes
A trophy crafted by Chopard and complimentary seats on our IMD Family Business Programs are awarded to the winner (two free seats) and finalists (one free seat). A case study and articles about the winning family business are published by IMD’s Award Director Professor Peter Vogel and the award research team.
Jury
The jury is composed of minimum six and maximum 10 members of globally leading family businesses, former award winners and senior expert academics within the field of family business.
Responsibility, authority and compensation
- Full confidentiality applies at all times for all Award activities and communications.
- Jury members receive an extensive report on finalists which they are asked to read to prepare for the annual jury meeting and anonymous online vote.
- There is no compensation for time or other expenses.
Get to know the voting members of the jury, displayed in alphabetical order
Discover our non-voting members, presented in alphabetical order
Award winners
The independent award jury of family business experts and previous award winners praised Thermax for the level of engagement with its employees, as well as its ability to navigate the delicate balance between family values and shareholders’ interests.