IMD-Pictet Sustainability in Family Business Award

Encouraging leaders and organizations to have a positive impact on society

IMD-Pictet Sustainability in Family Business Award

Encouraging leaders and organizations to have a positive impact on society

Celebrating commitment to sustainability by family businesses

The IMD-Pictet Sustainability in Family Business Award rewards family-owned enterprises that are leaders in sustainability, demonstrating exceptional breadth and depth in their sustainability strategy with exemplary implementation and impact.

Criteria & process

The award celebrates family-owned businesses that are leaders in sustainability, with a specific focus on both breadth and depth in strategy, initiatives, impact, implementation, and stakeholder engagement.

The eligibility criteria are:

  • Second generation or older
  • Business operates in at least two countries
  • Has a turnover of at least USD 200 million

Companies involved in industries such as weapons, hazardous materials, or tobacco are not eligible.

Award process

01.
Call for nominations and collection of applications

IMD solicits applications from the nominated family enterprises that fit the award criteria. Families need to sign off on the application before it is considered by the award evaluation committee.

02.
Identification of the finalists

Based on the award criteria, finalists are identified by the evaluation committee composed of representatives from the IMD Global Family Business Center, FBN, and Pictet.

03.
Advanced research on the finalists

Advanced research and interviews are conducted with key family members from the finalist family businesses. An extensive report is prepared and submitted to the jury.

04.
Jury meeting and vote

The award jury votes individually and anonymously. The jury is composed of members of globally leading family businesses, former Award winners, and senior expert academics within the field of family business.

05.
Contact the winner and prepare the case study

The winner is contacted and a full teaching case study, accompanied by a video, is developed in preparation for the presentation at the awards ceremony.

06.
Award Ceremony

The announcement of the winner, the awards ceremony, and the session with the winner takes place at IMD.

Award Prizes

A trophy crafted by Chopard and complimentary seats on our IMD Family Business Programs are awarded to the winner and finalists. A case study and articles about the winning family business are published by IMDÔÇÖs Award Director Professor Sameh Abadir and the award research team.

Symbolizing the extension of the totem pole linking heaven and earth, the award trophy is crafted by Chopard, a family-run business and expert in watches and jewelry. It is made from recycled materials in the shape of the leaf of a tree and designed as a further development to the IMD Global Family Business Award trophy.

Jury

The jury is composed of members of globally leading family businesses and senior experts within the field of sustainability and/or 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.
Voting members

Get to know the voting members of the jury, displayed in alphabetical order

What stakeholders say

On behalf of all the members of the Firmenich family, it is an honor for our company to be the inaugural winner of the IMD-Pictet Sustainability in Family Business Award. Since Firmenich was created in 1895, we have nurtured a unique legacy of responsible business: itÔÇÖs about doing whatÔÇÖs right for our planet, communities and our business to thrive.

Patrick Firmenich Chairman of the Firmenich Board, Firmenich (winner 2019), Switzerland

Committed to our ÔÇśJourney to Sustainable LuxuryÔÇÖ since 2013, as a family company, all of us at Chopard are convinced of the importance of putting ethical issues at the heart of the company’s concerns. It is within these structures that the decisions which influence human relationships and future generations may be discussed with the greatest impact.

Karl-Friedrich Scheufele Co-President, Chopard, Switherland

Leaders today should not only think about their careers but also their contributions, both to business and to society – contribution that is unique, durable and measurable – combining business performance and societal progress.

Sameh Abadir Award Director and Professor of Leadership and Negotiation, IMD, Switzerland

We feel a deep sense of responsibility to be a positive force in the world, caring for our people and our planet; mindful that our responsibility is not just to our stakeholders today but those who come after us. While this recognition reminds us of what we have done well, it drives us to continue to do better, thinking always of future generations.

Molly Heaney Fifth generation Huber family member and Director, Huber (winner 2020), USA
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With sincere thanks to our sponsor