WEBINAR- Succession in the Business Family: A Behavioral Solution to a Behavioral Problem
November 19 | 12:00 pm
Many business families struggle with succession planning. Often, it is assumed that the children will take over key leadership positions in the company – for example, oldest son will be CEO, oldest daughter will run marketing, second daughter will run HR etc. As a result the founder/matriarch/patriarch will be reluctant to step away because they do not have confidence in the next generation. Often this is less a reflection on the skills and abilities of the incoming generation and more a failure to objectively vet their talent and ensure the right match is made. In addition, there is often a lack of awareness about the tensions that arise when the family system becomes co-mingled with the business system and the need to objectively assess each family members talents and aptitudes before making critical decisions that will impact the business and the family.
The session with showcase the problems that arise in family business succession planning and offer solutions to that ensure that the founders can step away from the business with confidence and watch as the business and family prospers to the benefit of future generations of family.
Susan works with clients at the intersection of life and money. As a Wealth Advisor, Susan believes in a holistic approach to helping her clients plan their financial futures and manage their wealth so that they achieve their goals with peace of mind. She founded the Latremoille Group in 1990 to provide advice and wealth management to a select group of high net worth business owners, professionals and families. Since her graduation from The Family Enterprise Advisor Program in 2017, Susan has become keenly interested in developing multi-disciplinary approaches to solving family business succession issues.
Andrew’s sole focus is helping business families develop and implement ownership succession plans, processes and governance structures. He founded The Succession Bridge in 2007 and has been a succession advisor since 1994.
Andrew offers a perspective on succession that builds on his experience as a member of a fourth-generation family business, his skills in business valuation and corporate strategy, and his credentials in negotiation, facilitation and corporate governance.
Paul Frederick has held senior global Chief Human Officer Resources and Chief Administrative Officer executive corporate and consulting leadership positions in the Industrial and Service sectors. Within these sectors, he has performed in industrial manufacturing, healthcare, private equity and retail wealth management, diversified financial services, travel, engineering consulting and telecommunications. Paul is proficient in all aspects of human resources management and excels in strategy execution, enterprise wide change management, executive and management assessment, training, development and coaching, corporate communications, succession planning and M&A integration. He is a recipient of the Thomas Cook Group (UK) Leadership Award.