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Succession
Global principals and the next generation are slowly taking steps to ensure the family fortune lives beyond its founder, but there’s still work to be done. We find out why failing to plan for succession is planning to fail.
When your country is only 45 years old, it makes sense many businesses based there are young too. So succession is an issue which plays on the minds of many family business heads in the United Arab Emirates, as they enter the throes of the first generational transition. James Beech and Alexandra Newlove report
This has been the debate here—how to convince elder patriarchs that succession planning will fit with their life and afterlife
In our new series, FB Academy, giving practical ‘how-to’ advice to families, Andrew Keyt, clinical professor at Chicago’s Loyola University, likens bringing on a non-family leader to Thanksgiving.
When it comes to succession, some business families plan well and some don’t, whether the next generation is ready or not. Scott McCulloch reports.
Two factors play a major role in the success of multigenerational wealthy families: they grow their assets well above their consumption rate, and they consistently develop family talent—generation after generation
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