Successful corporate succession involves the reinterpretation of the company’s essence and culture. Success happens when a foundation of trust is created between generations and the ideal balance is found between preservation, disruption and change.
The professional support of a company succession process has the goal of finding not the obvious, but the optimal solution. The focus is on building trust between the generations involved, analysing and presenting different scenarios, ensuring the objectivity and sustainability of the end solution as well as identifying and moderating emotionally and economically critical process steps.
“There is probably no other topic that is of such significant importance and so emotionally charged as succession planning. Here there is a particularly complex crossing of economic, family and cultural aspects. For me, assisting with a succession plan means building bridges, untying knots and helping to ensure that different perspectives allow the greatest possible level of openness and objectivity.” – Frank Beyer, Managing Partner of LAB & Company
Companies are not the family silver that needs to be carefully polished and preserved. Continuity needs to be reinterpreted in the context of digitisation and profound social, cultural and economic change. Family businesses, in particular, face the question of how much change is needed in their business model, their organisation and even their culture in order to remain successful in a new world – and who the right person is to successfully lead the company through these changes. Today, these questions shape the process of a company handover – and give it a high degree of complexity, emotionality and momentum.