Succession from a management perspective

When handing over the leadership position, it is most important to ensure a smooth and effective transition that minimizes disruption to the organization's activities and maintains continuity in leadership. It is essential that the current leader adequately prepares and supports their successor, providing them with sufficient knowledge, experience, and resources to succeed. Communication is key, as transparency and openness help alleviate concerns and promote trust not only in the new leader but also in the entire team. In addition, it is important for the new leader to demonstrate an ability to understand and respect the culture and values of the organization, thereby gaining the trust and respect of team members.

This issue needs to be addressed comprehensively, and the solution requires a preparation process in which answers must be provided to many questions that will affect the successful transition and sustainability of the business. These questions include, in particular:

On demand

Expectations for a new leader

Who should formulate expectations for the new leader?
 

Selection of successor

Who will succeed the current owner?
Is it a family member who has expressed interest and has the necessary skills and experience, or is it better to look for an external successor?

Preparing a successor

What steps are necessary to prepare the successor to take over the leadership?
Does he or she need additional education, training, or experience?
 

Legal and tax aspects

What are the legal and tax implications of the transfer process? It is necessary to consider the various structures of ownership transfer and their consequences.

Preserving the value of the company

How can you ensure that the value of the company remains intact during the transition? This may include ensuring continuity in customer relationships, retaining key employees, and promoting the corporate culture.

Communication with the team

How to inform and involve employees in the handover process? Transparent communication is key to maintaining employee motivation and trust.

Planning for the future

What are the company's long-term goals for the coming years and how will these goals manifest themselves during and after the transition to a new owner?

More advisory services for family businesses

Family holding company

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A family holding company is suitable for any entrepreneur who, in addition to carrying out the relevant activity, also owns other assets or other valuables. Whether in the form of a joint-stock company or a limited liability company, it serves to manage family assets and to ensure the transfer of assets and rights between generations. The basic objective of a family holding company is to consolidate assets, transfer property relations, establish new property relations, address the long-term income of the family and its environment, and at the same time prevent possible negative influences of individual family members on part or all of the assets.

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