Preparation for Succession in Family Enterprises

Hermut Kormann ()
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Hermut Kormann: Zeppelin University

A chapter in Topics of Family Business Governance, 2021, pp 137-142 from Springer

Abstract: Abstract The board should naturally be involved in preparing the succession in the leadership of the family-owned enterprise. Either the board is the authorized institution or, in a case where the authority is withheld by the shareholder assembly, could advise this assembly on such an important decision. If a family member is qualified and willing to assume the succession then he or she will have the preference. But then the “how,” the preparatory steps, and their timing, still need to be reviewed. To this end, one should reflect on the entirety of competencies a beginner in the profession needs to acquire as an aspiring executive and owner of a family business.

Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:mgmchp:978-3-030-58019-3_27

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DOI: 10.1007/978-3-030-58019-3_27

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