Family business leaders understand that choosing the right successor at the right time is one of the most critical decisions they will make to sustain the success of their business. They also recognize that social, cultural and demographic changes are creating a different outlook and business philosophy among many of their potential successors, including more women who are assuming leadership roles.
In these family business profiles, the insights of family business leaders highlight their views on the importance of retaining the core values of the business, the increasing focus on meritocracy for choosing a successor, the impact of good governance systems and the importance of sustaining their commitment to an enduring family and business legacy.
The contributions of all the members of the family businesses who shared their company stories, and those who preferred to remain anonymous, are greatly appreciated. Each of these family business leaders contributed generous amounts of their time to the survey and follow-up interviews. Their candor is a key factor in deepening the understanding of the opportunities and challenges of their family businesses — and others like them.