Edited by Pramodita Sharma, Nunzia Auletta, Rocki-Lee DeWitt, Maria Jose Parada and Mohar Yusof
Chapter 5: Transgenerational professionalization of family firms: the role of next generation leaders
We would have never taken this risk and grown this venture across generations without going through a professionalization path. (Marcello Persico, 2nd generation family member, talking about the acquisition of a new venture in Spain). Persico SpA was established in 1976 in Nembro (Bergamo, Italy) by Pierino Persico, a brilliant craftsman who enjoyed creating models for diverse artefacts. The company was originally founded as a wooden model workshop and in a few years became an established and reputable business that grew significantly by focusing on the manufacturing of moulds (hollow containers used to give shape to molten or hot liquid materials as they cool and harden). Over the years, Persico SpA became a well-diversified business with several business divisions. The first two were Persico Automotive, which progressively specialized in the manufacturing of moulds for interior parts and sound–heat insulation for vehicles, and Persico Rotomoulding, dedicated to the production of rotational aluminium moulds. Persico SpA developed strong expertise in these fields, gradually becoming the leading European manufacturer in both markets.
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