Succession deconstructed
I have worked so long and so hard to provide security for our family and our employees. Who can I trust to take over and to continue on the right path? How can I keep an active role in the business?
Senior Generation
FEATUREs
I would like to prove my leadership skills and be given responsibility. But I am also very scared of taking on such a great task. How can I gain the competence I need and at the same time make everyone trust me?
Junior Generation
amongst various branches of the family?
to see their work continued and provide for the
Who should be allowed to own shares and vote in
next generations. On the other hand, the junior
assemblies and sit on boards?
generations want to make their mark in the world,
Can family members take any positions
use their energy to show what they can do, but
disregarding their qualifications and merit?
also very often shy away from the serious tasks
How can family business leaders remain active in
and responsibilities that await them.
advisory positions and at the same time hand over part of the responsibility to the next generation
Deconstruct to reconstruct
of leaders?
The only fairness in the quest for a succession plan is that all generations of a business family
It is not hard to understand that for some family
are equally anxious about it. Be it the leader, the
business members succession seems like a big
young manager, or even the non-active family
black hole; the closer they get to it the more they
member, everyone fears for the strength and unity
get drawn into something beyond their control. On
of the family during this process.
the one hand, the senior generation, that has been taking care of the business for many years and
One way to structure the approach to succession
has borne the burden of responsibility, would like
is to “deconstruct� the situation and classify the
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Volume 14 Tharawat magazine
27