IMD’s Global Family Business Center, which hosts the award together with the leading independent wealth and asset manager Pictet, has launched a call for nominations. The deadline is August 7, 2020.  

Last year’s winner (from a pool of some 60 nominations) was Firmenich, the world’s largest privately held flavors and fragrances company.  

Firmenich stands out for the way it embeds sustainability in its core business, corporate governance and its wider ecosystem. Indeed, the jury favors family businesses that demonstrate exceptional breadth and depth in their sustainability strategy.

The IMD Global Family Business Center uses multiple approaches to support family businesses, given their unique characteristics and challenges.

The birth of the SIFBA in 2019 came off the back of two decades of success of its sister award, the IMD Global Family Business Award – also sponsored by Pictet, which lauds family businesses for best practices more widely speaking.  

Do you know a family business that has prioritized sustainability with success? 

To nominate a business, you need to fill out an application form. Eligible nominees must be a second-generation or older family businesses, with activity in at least two countries and a turnover of at least USD 200 million.  

An evaluation committee, comprised of experts from both IMD and Pictet, will review all applications and undertake research to validate the submissions, before carrying out interviews with shortlisted finalists.

The winner will be presented with a trophy crafted by Chopard towards the end of the year and, together with finalists, receive complimentary seats to IMD’s family business programs. In addition, Professor Sameh Abadir, the Award Director and IMD Professor of Leadership and Negotiation, will publish a case study and articles about the winning family business.