In the high-stakes world of family business, we often focus on growth and balance sheets. But what truly sustains a legacy across a century?

I recently revisited a compelling interview on NDTV Profit featuring Ajay Shriram, Chairman and Senior MD of DCM Shriram. The group, which traces its roots back over 136 years, is a masterclass in how to evolve.

1. The Art of the Amicable Restructuring & Split

In 1990, the Shriram family faced a common crossroads: a growing number of family members and a need for more independence. Instead of a public battle, they chose a path of amicable restructuring. Through rigorous valuation and transparent discussion, the group split into four independent entities.

This allowed each wing of the family to manage their own business—like the ₹12,000 crore DCM Shriram managed by Ajay and his brothers Vikram and Ajit—without getting in each other’s way. They realized that restructuring into smaller groups is the best way forward. 

2. The Power of the Facilitated Retreat

Perhaps more impressively, Ajay Shriram shares a practice they have maintained for over 22 years: an annual off-site retreat.

Even today, the three brothers go away for 3-4 days with an external facilitator. Their goal? To strengthen internal alignment through transparency. As Ajay puts it, they focus on three pillars: Communication, Transparency, and Intent. They use these retreats to “get things off their chest” so they can return to the office as a unified front. 

It’s Not Just for the Giants

There is a common misconception that structured retreats are reserved only for “mega-families” like the Ambanis or Adanis. In reality, this practice is just as vital—if not more so—for small and tiny family businesses.

While family vacations have their own role in building memories, they are rarely the place for serious strategic alignment. I find that even a smaller 2-day curated retreat—sitting around a table specifically to discuss how to work together—can be incredibly energizing. Learning how other families navigate similar hurdles and setting clear ground rules for the “office” can transform a struggling small business into a productive powerhouse. 

Global Best Practices: Keeping the “Flock” Together

Many of the world’s most successful business dynasties use retreats to bridge the gap between “family” and “business”:

• The Murugappa Group (India): Known for their robust family governance, they use regular family gatherings to reinforce their “Five Lights” values, ensuring that even as the family grows, the core ethos remains unchanged. 
• The Ferrero Family (Italy): The creators of Nutella have historically used private retreats to maintain a “culture of the family,” ensuring that leadership transitions remain private and professional. 
• The Rockefellers (USA): Now in their seventh generation with over 200 family members, they hold “Family Forums” twice a year to learn about the family’s history and philanthropic goals. 
  
  

Is Your Family Aligned for the Next Decade?

As a Family Business Advisor, I often see that the biggest barrier to success isn’t market competition—it’s unspoken resentment and misaligned visions.

A family retreat is not just a holiday. It provides a safe, neutral ground to set the stage for open communication and long-term alignment. And it is energising as you explore and navigate together.

Would you like to curate a meaningful retreat for your family? I help families—large and small—design and conduct these sessions, sharing global best practices and facilitating the conversations that lead to lasting harmony. If you are interested in exploring how a structured retreat could benefit your business, you can reach out to me directly.

Watch the 5-minute NDTV Profit clip featuring Mr. Ajay Shriram here: NDTV Profit – Ajay Sriram

     Harsh Chopra
     Family Business Advisor
     Partners4growth.in