Transforming a family-owned business: Lessons learnt in BIC

On Wednesday November 22nd, the IE Center for Families in Business, in collaboration with the IE Family Business Club, hosted an event featuring David Cabero, General Manager of Europe BIC Group, who shared with the students invaluable insights about transforming a family firm like BIC, an iconic company in its third generation.

The event provided a platform to explore key topics such as the strategies implemented by BIC to adapt to a rapidly evolving market, the role of a non-family executive within family firms, and the advantages and disadvantages of BIC as a family business.

Afterward, Cristina Cruz (Academic Director of the IE Center for Families in Business) engaged in a conversation with David Cabero, delving into the secrets behind BIC's enduring success. Cabero emphasized the critical role of building a competitive advantage, highlighting BIC's consistent delivery of high-quality products at accessible prices and embodying the principle of value for money.

In response to inquiries about success as a non-family executive in a family-owned business, Cabero stressed the importance of understanding the company's unique culture and legacy. Drawing from his multinational experience, he underscored the need to apply past knowledge while aligning with the unique culture of the company.