AIoD Hosts Workshop on Family Business Transformation: From Founder-Led to Future-Ready
On May 27, 2026, the Armenian Institute of Directors (AIoD), in collaboration with BDO Armenia, hosted a comprehensive workshop titled "Family Business Transformation: From Founder-Led to Future-Ready". The session explored the critical lifecycle of family-owned enterprises, focusing on the vulnerabilities of leadership transitions and the governance structures required for multi-generational survival.
The workshop was led by Aleksandr Shaghikyan, Partner and Regional Head of Advisory Services at BDO Caucasus and Central Asia. Bringing over 20 years of expertise in corporate finance, strategy, and governance, alongside academic foundations as an Oxford Saïd Business School MBA graduate and PhD in Economics, Shaghikyan provided attendees with actionable roadmaps for navigating family business complexities.
During the session, the presentation highlighted several key themes:
The Scale of the Challenge: In Armenia, roughly 55% of the GDP is controlled by just 44 families, putting the local economy at the threshold of its first major generational transition.
The Three-Circle Model: Shaghikyan explained how the overlap of Family, Ownership, and Management can turn a founder's initial strengths—like rapid decision-making—into systemic generational risks.
Future-Ready Structures: The workshop detailed the necessity of separating governance into three distinct bodies: the Family Council (to manage family relations), the Family Office (to manage wealth and investments), and the Board of Directors (to oversee the business operations).
Mechanics of Entry and Exit: Shaghikyan stressed the importance of establishing strict entry rules for the next generation, such as requiring 3-5 years of external work experience and a university degree, alongside a pre-designed "exit architecture" to protect the business if a shareholder wishes to leave.
Global Case Studies: The discussion drew structural lessons from international dynasties, contrasting the 640-year continuity of the Antinori family with the complex succession disputes of the Murdoch empire.
The event concluded by offering founders a practical diagnostic checklist and a 12-month action plan to begin documenting ownership, defining roles, and scaling their corporate governance frameworks.
