Richard Eu is the great-grandson of Eu Kwong Pai, who founded the traditional Chinese medicine (TCM) business Eu Yan Sang, which first began in Perak, Malaysia in 1879. He has been credited not only with keeping the 144-year-old brand relevant and thriving, but also for wresting back control of the business from Lum Chang in a series of buyouts, listing (and de-listing) the company on the SGX and steering the brand into the digital age.
Like most scions of multi-generational, successful family businesses, Richard rarely appears in the public eye. Which makes his views, in this rare appearance, of issues like breaking the three-generation family curse, IPOs, motivating wealthy children and having Temasek as a shareholder all the more valuable.
(This interview was part of a collaboration with CGS-CIMB and Endeavor Malaysia as part of the ‘Thought Inspire’ Series, filmed at the Asia School of Business (a partnership between MIT Sloan School of Management and Bank Negara Malaysia)
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