Scion of a Swiss dynasty on benefits of family ownership

The great-grandson of Roche’s founder discusses corporate governance and pharmaceuticals. André Hoffmann runs his affairs from a long, wood-floored office on the upper storey of a grand villa overlooking Lake Geneva in Morges, Switzerland. The snow-capped summit of Mont Blanc glistens in the distance, while the rigging of sailing boats clanks rhythmically in the nearby marina. It is just the kind of setting that would be expected of the scion of one of Switzerland’s great business dynasties. Mr Hoffmann, vice-chairman of Roche, the pharmaceuticals group his great-grandfather founded, knows this picture of inherited wealth and power rankles with some investors, not to mention corporate governance experts. “I was born into those shares and therefore in some circles I’m considered not to be an appropriate board member,” he says, in a rare interview over lunch of local cheese, ham and salad. After years spent studiously avoiding the spotlight, Mr Hoffmann wants to ...