Roche family shareholders should ensure stability

The head of the controlling shareholder group of Roche is "very confident" that the stability of the pharmaceutical company can be preserved after the entry of the next generation of heirs into the family investor pool, he told the NZZ on Sunday.

"The new generation has the same values ​​as the older family members," said Andre Hoffmann, the great-grandson of the company founder, in an article published on Sunday.

"Our job as the owner family is to enable Roche to focus on creating sustainable value in the long term. We are convinced of that," said the 63-year-old, the spokesman for the pool of family members, who is 45 01% of the Basel company controlled.

A pooling agreement has existed between the descendants of the company's founder Fritz Hoffmann-La Roche since 1948, and was extended for an indefinite period in 2009. A fifth generation was added to the pool in 2019.

Hoffmann, who is also vice president of Roche, said family ownership doesn't always work in large companies.

"If it works, it's a great strength for the company. If it doesn't, it can be devilish," he said.