Paphos conference to examine succession and growth in Cyprus family businesses

Paphos, Cyprus. AUB Mediterraneo will bring together academics and business representatives for a public conference on November 6 examining the future of Cyprus’s family enterprises, with particular attention to succession between generations.

Succession and business continuity

A 2025 KPMG Cyprus analysis identifies succession as a major challenge for family businesses: only 30 per cent make a successful transition to the second generation, and just 10 to 12 per cent remain in operation into the third.

Related: Cyprus business week: startup growth, LNG shipping doubts and a Pizza Fan tax inquiry

RelatedCyprus business week: startup growth, LNG shipping doubts and a Pizza Fan tax inquiry

The conference, The Development of Family Businesses, is organised by the American University of Beirut – Mediterraneo. Its agenda extends beyond choosing a successor to consider how future leaders can be prepared, professional management introduced and existing relationships and values preserved.

According to the programme, academics, founders, executives from succeeding generations and professionals employed in family enterprises will examine business development, obstacles to sustained growth and differences between generations in leadership and decision-making.

Academic and business perspectives

The programme lists an opening address from Alain Daou, Dean of the university’s Faculty of Business, before a presentation by Panikkos Poutziouris, Visiting Faculty and Professor of Entrepreneurial Management at the European Institute of Management and Finance (EIMF).

Poutziouris will explore influences on the development and long-term survival of family enterprises in a presentation titled “How Do Owner-Managed Family Businesses Develop – or Derail?”

The academic discussion will be followed by practical perspectives from three speakers whose roles represent different stages and positions within family companies.

According to the programme, Lisa Nemitsa Petevi, founder-president of L. Nemitsas Ltd, will examine the issues from a founder’s standpoint. Thanos Michaelides, CEO of Thanos Hotels and Resorts, will discuss the experience of assuming leadership as a member of the next generation.

Bilal Zein, Head of Single-Family Office at Averda Group, will address the contribution of professionals outside the family that owns the business.