Succession planning in family firms
‘I have found that if the founding entrepreneur has planned and formulated the succession process earlier, and if the successor has been guided by such a well-structured process for training and empowering his decisions, then business value during the process of succession tends to suffer less or in fact even increase as there is less likelihood of a damaging power struggle.’
Yin-Hua Yeh
Modernising the UK AGM
‘Fundamentally, the proposed process creates a forum for investors to engage with a board before positions become fixed and enables the board to retain the flexibility to address investor concerns in a collaborative rather than adversarial way. While some boards may be reluctant for the fear of challenge, the reality is that visible stewardship through engagement is a corollary to strong governance and empowers both management and the board. This is governance in action.’
Michael Henson and John Dawson
