The latter planted the seed for the desire to revenge that made “Pirre” later became an unchallenged authority, partly by recognizing their limitations and lead more through other than the father.
The Investor manager Claes Dahlbäck, he a guard who mastered the financial market and all the new phenomena that were both challenges and opportunities. And among a younger generation of industrialists, he found new mainstay as Hakan Mogren, Anders Sharp, Bo Berggren, Michael Treschow, and, not least, Percy Barnevik.
But something went awry when he was in 1997 handed over the presidency of the Investor to the later, in anticipation of the “real” heirs would mature. Less than five years later burst layup, formally to the pension scandal in ABB exploded but perhaps also because of the sphere alderman felt a nagging dissatisfaction with elements of development – such as the fusion fury that made also Scania put in play.
The permanent generation is happening now, more than a decade after the parenthesis Barnevik, looks to be much calmer than the former. It seems infinitely better prepared and above all, Peter Wallenberg, when the whole epoch summed, played his cards so wise that realm seems stronger and ownership point more stable than when he took office.
There is a more than respectable hindsight considering how globalization and other megatrends during these 30 years changed the conditions for both the ownership and the Swedish enterprise.
Wallenberg sphere may have lost a little of its magic and unique position in Sweden now that there are so many exciting second pole of attraction of H & amp; M, Ikea and a plethora of business builders that Mr. Bennet, Niklas Zennström, Melker Schörling and Gustaf Douglas.
Still, raises itself above the crowd, both through a unique breadth and an unusually global profile . It is no coincidence that companies like Electrolux and Atlas Copco has foreign managers, as well as SKF until recently.
And even though much of the power of ABB and AstraZeneca slipped out of the country, Investor still an active major shareholder in both companies . Of the lost crown jewels, only Scania where the ownership bands definitely been hijacked.
An important key is the ability to build on some main lines in the Wallenberg tradition, research and interest in technology, international contacts and the importance of constantly growing and renewal of the networks.
And that also dare to seek new hunting grounds in tune with the times. Among all familjemotton circulating has in recent years often mentioned Marcus Wallenberg’s words that the only tradition that really are worth preserving is “to move from the old to the new.” It was in his time a defense that sold shares in a railway company to go “all in” in flight. It was certain about SAS but could well also apply to the blue and yellow pride Saab.
With these guiding principles having an affair hungry new generation could legitimize the leap into the welfare sector – as with healthcare provider Aleris. But it has also embedded to take up the seemingly more modern way to exercise the role of owner and omstrukturerare, like when you co-founded private equity firm EQT.
An important piece of the puzzle is that the Wallenberg sphere significantly better than their counterparts Handelsbanken / Industrivärden has been able to attend the informal contract with the increasingly powerful institutional capital in funds and insurance companies.
By, at least temporarily, at the forefront of broader recruitment boards, various shareholder-friendly grip and elimination of most absurd differences in voting rights have been partially taken holidays of criticism which expired on that Wallenberg model most preserves ancient structures and secures high remuneration ate a bunch of Directors.
The tax-exempt foundations in the top of the power pyramid now contributing as soon as possible to the family legitimacy. They are included of course in a cycle in which the profits from the sphere companies, through dividends to pension funds, plowed in important research for the future.
In recent years the pendulum, also internationally, started beating over. Long-term owners, also by Wallenberg variety, have seemed in short supply and which favors long-term growth.
It is a mood shift that must have calmed Peter Wallenberg when he looked back at his work.
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