A family business always thinks in the future and continuity


Name of the provider / Family business 

Grupo Aza 

Professional sector and company size 

Tertiary sector operating in 5 main lines: transportation and logistics, parking, yachting, and real estate. 350 employees.

Need/problems/challenge addressed 

Corporate governance in family business and family governance mechanisms. 



Link to more information  

AZA Group is a family-owned enterprise that has been active in Valencia for over a century and is now in its fourth generation. The company specialises in the tertiary sector and operates in 5 main business lines: transportation and logistics, parking, yachting, and real estate. The Group is experiencing continuous growth and achieving positive outcomes. It generates an annual revenue of nearly EUR 40 million and employs 400 people.

Alfonso Zamorano (3d generation), president of the group, affirms that one of the fundamental causes of business failure is the lack of ability shown by some managers to control situations. He recognizes the mistake that some companies make by not separating the family and business spheres and not establishing succession planning. Regarding this last aspect, the Zamorano Group has a family protocol/constitution that regulates, point by point, the relationships between the members of the company and participation in the board of directors. In their company, the family members do not intervene in the management of the company, controlling only the property.

Alfonso Zamorano together with his two sons, a daughter and two non-family members form the Board of Directors. He is also the President of the Group, who is chosen in the leap year. Being part of the Board of Directors, neither of the family members represents any of the top management bodies, even the President of the Group. The Board of Directors is in charge of the strategic planning of business development. They delegate the implementation of the strategy to professional managers who in turn are controlled by the Board of Directors. However, the responsibility for execution rests entirely with the manager who runs each business. They leave the business management in the hands of professionals.

The AZA group has a family council and a family constitution. All family members, including the in-laws, make up the family council. They are informed monthly about the development of the company. The family constitution, for example, clearly defines the relationships and lays down strict requirements for board membership: a university degree (without specifying the field), an MBA and three years’ experience outside the company. For example, 10 years ago, although Alfonso’s daughter had the required degrees, she was not admitted to the board because she lacked the necessary preparation. They also consider it very important to have non-family members on the Board of Directors. Currently, there are 2 independent directors. According to Alfonso, the role of the independent director is fundamental as it greatly mitigates the power of the parent. The fact that there is someone from outside cuts completely off family affairs and forces the function of the council to become professional.