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succession planning

September 12, 2018

Fear in the mind of a founder is one of the greatest obstacles in planning for succession in a family business, a leading family academic says.

Fear in the mind of a founder is one of the greatest obstacles in planning for succession in a family business, a leading family academic says.

A patriarch or matriarch’s fear for their own future, their fear of running out of resources to live on and their fear of having nothing to do sometimes manifested when the time came to transfer control of the business they had often spent a lifetime building.

September 5, 2018

A leading Spanish business school says families can plan their successions in just six steps, after finding most of the firms it surveyed did not have a structure ready to transfer control between the generations.

A leading Spanish business school says families can plan their successions in just six steps, after finding most of the firms it surveyed did not have a structure ready to transfer control between the generations.

New research from IESE Business School revealed more than half of the companies consulted (53%) did not yet have a defined succession plan, despite acknowledging the importance of securing longevity.

July 25, 2018

The family principal behind Fiat Chrysler Automobiles (FCA) has pledged to build on the legacy of Sergio Marchionne, his friend and non-family chief executive, who is credited by many with rescuing the automaking group from bankruptcy.

The family principal behind Fiat Chrysler Automobiles (FCA) has pledged to build on the legacy of Sergio Marchionne, his friend and non-family chief executive, who is credited by many with rescuing the automaking group from bankruptcy.

John Elkann, chairman and chief executive of the Agnelli family-controlled holding company Exor, paid tribute to Marchionne, who died suddenly today in intensive care in Zurich aged 66 from complications from shoulder surgery.

July 9, 2018

For the founder of a business, putting in place a succession strategy and exiting the business can be a difficult process. Where some of the founder’s family are also involved in the business, that process can be further complicated by competing interests and differing visions. Every business is unique, but set out below are some guiding principles that can help an exit and a transition to the remaining family members.

For the founder of a business, putting in place a succession strategy and exiting the business can be a difficult process. Where some of the founder’s family are also involved in the business, that process can be further complicated by competing interests and differing visions. Every business is unique, but set out below are some guiding principles that can help an exit and a transition to the remaining family members.

Planning

April 25, 2018

Most business owners will agree that having a succession plan in place is critical, though often challenging, even in the best of times. But Michael Wagner, co-founder of the family-owned, Florida-based Omnia Family Wealth asks what happens when the heirs of the business have different needs, talents, goals and involvement in the family’s business?

Most business owners will agree that having a succession plan in place is critical, though often challenging, even in the best of times. But Michael Wagner, co-founder of the family-owned, Florida-based Omnia Family Wealth asks what happens when the heirs of the business have different needs, talents, goals and involvement in the family’s business?

Sibling differences and communication barriers can create major obstacles to a smooth transition in leadership that can lead to the ultimate destruction of the company.

April 20, 2018

The loss of billionaire heir Karl-Erivan Haub brings home the need for families to prepare robust succession plans to ensure their businesses survive, experts say.

The loss of billionaire heir Karl-Erivan Haub brings home the need for families to prepare robust succession plans to ensure their businesses survive, experts say.

March 28, 2018

With an estimated $4 trillion expected to be passed down within a generation in North America and the UK alone, robust succession planning is paramount—but it can cause dilemmas. What are the options for those family business owners who are now approaching retirement, but whose children and grandchildren are either interested in pursuing alternative careers or too young to take on the business?

With an estimated $4 trillion expected to be passed down within a generation in North America and the UK alone, robust succession planning is paramount—but it can cause dilemmas. What are the options for those family business owners who are now approaching retirement, but whose children and grandchildren are either interested in pursuing alternative careers or too young to take on the business?

November 10, 2017

A study by the EDHEC Family Business Centre shows the rate of intra-family business succession in France is below 20%. While the tax environment exerts a significant impact on the low rate of family succession, it represents only the tip of the iceberg.

A study by the EDHEC Family Business Centre shows the rate of intra-family business succession in France is below 20%. While the tax environment exerts a significant impact on the low rate of family succession, it represents only the tip of the iceberg.

For further understanding, Rania Labaki, associate professor, director of Family Business Center at the EDHEC Business School, dives below the surface to explore the “emotional nexus” binding the business and the family.

October 26, 2017

With only one-in-eight family businesses making it to the third generation, what is the secret of their success? Rosalyn Breedy, corporate solicitor at Wedlake Bell, has been advising family dynasties for more than 25 years and shares a few of her observations.

With only one-in-eight family businesses making it to the third generation, what is the secret of their success? Rosalyn Breedy, corporate solicitor at Wedlake Bell, has been advising family dynasties for more than 25 years and shares a few of her observations.

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