“From Father to Son” Award

Generational change is a delicate and crucial moment for enterprises’ future. This process represents a fundamental step in the companies which know-how often resides exclusively in the person of the founding entrepreneur.

In the Italian business system this problem is even more important, given that 90% of Italian companies are family-owned, 43% of entrepreneurs are over 60 and every year more than 60 thousand entrepreneurs are involved in the generational changeover.

Less than a third of family businesses survive to the generational change and less than a fifth are able to overcome the second generation.

The “From Father to Son” Award, promoted by Cerif (Research Center on Family Businesses) within the “Università Cattolica del Sacro Cuore”, is addressed to entrepreneurs who had the ability, dedication and passion to continue and enhance their parents’ work, by taking over the operational and strategic guidance of the company, guaranteeing its success and continuity.

Walter Tosto has been classified as a finalist of the Award. Luca Tosto, representing  the second generation of the Tosto family, received the important acknowledgement in the “Young Entrepreneur” category last Saturday December 2nd at the “Università Cattolica del Sacro Cuore” in Milan.