A successful succession plan not only keeps the family business alive, but ensures its continued growth and health.

Succession Planning

We offer help in planning and implementing the transfer of the leadership of the family business from one generation to another.

There is always time to move on. Ultimately, there comes a period when the younger generation takes over and assumes the helm. To the retiring founder the process can be a painful one. The family business has been a major part of his or her identity, and relinquishing is an awkward position accompanied by the fear of emptiness. Obviously, the objective is to make "a perfect pass".

The successful management succession

Whether easy to implement or not, experience has shown that there are a few key contributors to the success of the succession process:

The process should be planned early on and implemented over
a period of time.
The founder must be ready to change his or her role from being
a manager to serving as a mentor and advisor.
At the end of the successful transfer of the control and the authority,
the founder must not run the business behind the successor.
The founder must have a complete trust in the successor’s ability
to run the business.
The family must be unified and in a complete agreement about
the choice of the successor.
The successor must have previous work experience outside the
family business, and proved his or her talent in management.
An agreed-upon plan has been made to provide for family members
who are or may become shareholders, and their involvement in the
Family Council must be defined and accepted by all.

We help design a succession process.

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