Only 20% of students from entrepreneurial families plan to continue in the family business. Even so, there seems to be insufficient awareness of the growing risk caused by this lack of succession. This gap can be closed by a deliberate decision to recruit an external manager as an alternative to family members. The results of the study titled “External Managers in Family Businesses”, conducted by AvS – International Advisors together with EY and supported by ESCP Europe (Berlin), show that in this context, family businesses seek not merely employees but “co-entrepreneurs” who are suited to the company and the family — so the aim is to find a good emotional and cultural fit. Based on an initial qualitative study, a quantitative research was conducted in which hundreds of owners, as well as non-family top managers in big family businesses in Germany, Austria, Switzerland and The Netherlands, have been interviewed. Please click here to download the study English, French or German.