00:00 Intro: Secret to family office survival, "death" of publishing, love of Kaurismäki movies in Finland

00:50 Why family businesses are very important and why all ownership cannot be institutional

01:24 Klett Gruppe, 127 years publishing, education, kindergartens from Germany

02:02 Internationalisation and growth. Comparison to Sanoma of Finland

03.28 Four to six generations of family company, 40something members from 3 to 86 year old

04.06 Comparison to "asuntosakeyhtiö" apartment ownership structure in Finland, lack of capital in Finland

05:10 The Klett solution to ownership complexity is carefully layered corporate governance

07:30 Silicon chip industry in Asia. Finnish Harry Potter (WSOY) share the Thai artwork (Nanmeebooks)

08:47 Overcoming challenges, "Families are not built to decide stuff"

09:57 The Family Council of 5 takes care of the family11:56 Board of Directors / Supervisory Board13:00 Management Board

13:40 Checks for nepotism vs. family ownership education16:09 Top level executive qualifications are very strict

19:50 Time limits for positions21:20 Managing the international subsidiaries under four silos 22:07 Paradox of survival. Managing acquisitions and exits. Studeo. SAP's failed acquisition of Qualtrix of USA25:30 Selling to Private equity is not for Klett Gruppe for aims for long-term ownership28:18 Family office does not need to hold financial assets. Living off dividends is not encouraged30:40 Tackling political risk. Problems of high inheritance tax in Finland34:00 Finnish pension system replaces private ownership capital35:05 Good ownership skills are more important than inheriting wealth36:49 #negotiator insider episode: Kaurismäki movies, high quality chainsaws and the secret ingredient of family office survival

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