Succession has been called “the final test of greatness” for family business owners. As is so often pointed out, too, succession is not just an event but a process. It involves not only picking a new leader or leaders, but also defining the leadership needs of the company; training and mentoring the successors; and building support for them in the family and among customers and suppliers. Above all, leadership in the succession process requires getting everyone involved to take the time to plan and do it right.
The March/April 2015 edition of
Family Business
Magazine features a Q&A with Mitzi Perdue, widow of legendary poultry magnate Frank Perdue and author of a new book about his take-no-prisoners management style. Also in this edition: an article on women independent directors on family business boards, and a report on PwC's newly released family business survey.
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