Yes – that was exactly my point. Jacob Wallenberg, Marcus Wallenberg, and Peter Wallenberg Jr. are all senior figures who have had impressive careers related to Investor. Due to the natural cycle of life, their time in the business world is coming to an end, and a new generation of Wallenbergs is stepping in.
Of course, the company’s CEO is an outsider, and there are an incredible number of other top professionals. However, if we are honest, ultimate power still rests with family representatives, both within Investor itself, on the boards of its portfolio companies, and in Swedish business more broadly. When looking at Investor’s most central portfolio companies, Jacob Wallenberg, Marcus Wallenberg, and Peter Wallenberg Jr. have been Investor’s representatives on the boards of these companies for the last 15–20 years. In Investor’s profile, the most essential work is done precisely behind the scenes of individual companies, bringing the perspective of a key owner to the decision-making. That is what long-term ownership is, and Investor has historically been excellent at it. Those are big shoes that someone needs to fill. In Investor’s case, it would be ideal if those individuals belonged to the family, as has often been the case until now. There is a different depth to decision-making when it is not just about one’s own job, but about much larger things.