EXECUTIVE is always on the prowl for companies that will open their
doors – and their books. Not easy in Lebanon. It took us six
months to break into Obegi and get the goods. With the younger generation
now at the helm of one of Lebanon’s largest and most successful
businesses, they allowed us to take a close look at the family’s
diverse group of operations. Georges Obegi, 35, heads the consumer
products division (worth $71.8 million in revenues), while his brother
Yordan, 44, runs the chemical side of the business (worth $82 million).
They provided us with details on how they got where they are today
and what’s in store for the future.

Youth also comes into play in the emerging Internet industry. Imad
Tarabay, 27, sold his Internet service provider Lynx to a US multinational
less than a year after starting up. Mergers and acquisitions are
almost non-existent in Lebanon, because old-school tradition still dominates
the business environment.

In Lebanese companies, women are still a rare find in management,
especially in upper managerial positions. Advancement has been made
difficult because of cultural baggage and other barriers. There are hopes
that the next generation will help tip the balance, even if change has so
far been slow.

But successive governments have put Lebanon in a bind. Those leading
the country today must take responsibility for the massive debt and the
unacceptably high deficit to bring the economy back to life. The
younger generation should not have to pay the price.