The announcement of the winner, the Award Ceremony, and the session with the winner takes place at the FBN Global Summit.
Distinguishing prestigious family businesses around the world since 1996
This award – presented annually – 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 analyse the economic backdrop.
The Award cannot exist without your active contribution to identifying exceptional companies worthy of recognition.
Nominations are now open until 31 March for the 2023 award. Anyone can nominate a family business, and businesses can also nominate themselves.

01:29Celebrating excellence in family business with the IMD Global Fa ...
Celebrating excellence in Family, Business, Ownership and Society
First awarded in 1996 to the Lego Group, many strong, family businesses have followed suit. Will your family business be next?
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 3rd generation)
- Large (annual turnover of at least USD 0.5 billion)
- internationally-operating
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, 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 process
01.
Call for nominations and collection of the applications
Anyone is welcome to nominate or self-nominate. There are no costs associated with entry. 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 and FBN.
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 the video, is developed in preparation for the Award Ceremony.
06.
Award Ceremony
Award Prizes
A trophy crafted by Chopard and complimentary seats on our IMD Family Business Programs are awarded to the winner (2 free seats) and finalists (1 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.
About the trophy
The award trophy is crafted by Chopard, a family-run business and expert in watches and jewellery. Held between two glass plates fixed in a rock crystal base, the trophy, represents a tree kept in an elegant pear wood case.
Through its roots firmly planted in the ground and its branches reaching towards the sky, the tree symbolizes the stability, the link between past, present and future, and the continuity of generations. It provides a powerful metaphor of family business spirit that draws its strength from tradition in order to develop the future.

1996
IMD launched the IMD Global Family Business Award
8 jury
former Award winners and senior expert academics within the field of family business
2 partners
thanks to the ongoing support from Chopard and FBN
Jury 2022
The jury is composed of minimum 6 and maximum 10 members of globally leading family businesses, former Award winners and senior expert academics within the field of family business.
Responsibility, authority & 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 be prepared 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
Non voting members
Discover our non voting members, presented in alphabetical order
Award winners
Carvajal: winner in 2022

02:542022 IMD Global Family Business Award
Congratulations to Carvajal, winner of the 27th IMD Global Family Business Award
The independent award jury was impressed with its strong focus on good governance, next generation development, sustainability, and social impact.
List of previous winners
- 2021: Grundfos
- 2020: Brown-Forman
- 2019: Dachser
- 2018: De Agostini
- 2017: Pentland Group plc
- 2016: Jebsen & Jessen Family Enterprise
- 2015: Bavaria
- 2014: Ayala Corporation
- 2013: J.M. Huber Corporation
- 2012: Bel Group
- 2011: Firmenich
- 2009: The Merck Group
- 2008: Roca Corporacion Empresarial
- 2007: Yazaki Corporation
- 2006: Fundació Lluis Carulla, Ivey Foundation and Lopez Group Foundation
- 2005: Votorantim Group
- 2004: The Barilla Group
- 2003: The Bonnier Group
- 2002: The Samuel C. Johnson Family Enterprises
- 2001: The Murugappa Group
- 2000: The Zegna Group
- 1999: The Henkel Group
- 1998: Corporacion Puig
- 1997: Hermès SA
- 1996: The LEGO Group
What stakeholders say about the award?
With sincere thanks to our partners
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Contact us
Would you like to know more about our activities? Get in touch with our team at the IMD Global Family Business Center.