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The odds against a family business successfully being transferred to succeeding generations are daunting. The survival of the family business requires simultaneous negotiation of complex personal, family, and business issues in the context of an increasingly competitive global landscape. Succession in such a context requires two interrelated but independent sets of planning... Management Succession and Ownership Succession. Through an interactive dialogue, Steve Salley, senior partner of GenSpring Family Offices, will help families parse and then methodically address these disparate planning challenges. Without early and proactive planning and adoption of rigorous disciplines for both arms of succession, general unease that may be keeping family leaders awake at night can morph into destructive conflict that dooms the family enterprise long term. This session will place particular emphasis on early indentification of potential (but often predictable) pitfalls and creating a framework for family decision-making that incorporates three interlocking disciplines between family and family enterprise... structure, communication and, ultimately, consensus. The program, which will run from 3:00 pm - 5:00 pm, will be followed by a wine and hors d'oeuvres networking reception. |
