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At 800 German firms, 81% chose sons over daughters in succession decisions -- and the presence of first-born sons also made them exclude outside candidates.
The successor's readiness for the top role, and the firm's age and experience with previous successions, are main factors to consider.
Next-gen leaders often have a clearer view of how the family business must change. The challenge is to preserve the culture and values while making change happen.
Large family firms in countries such as Ghana, Kenya, and Madagascar show that women’s leadership can thrive when families widen their view of succession.
Family businesses often promote their ownership and heritage to build trust. Research suggests that “family-run” may send a stronger message than “family-owned” — and that adding more heritage claims can sometimes backfire.
Family offices excel at managing money but often overlook the greatest threat to multigenerational success: poorly planned succession. Here's how they can help.
