Together with the INSEAD Wendel International Centre for Family Enterprise and PwC, AvS – International Trusted Advisors has embarked on a pan-European research survey, focusing on how to ensure the success of external executives in family businesses.
Succession planning has always been one of the top challenges facing family businesses. Owners of family business are not only looking at passing on a company but also a legacy to the following generations. This unique focus on long-term performance puts dynamic tension on leadership transition and especially so when an external executive is hired as CEO. This brings into question the fit of the individual to the family values and company’s culture, and whether the executive is able to establish a relationship of trust with the family owners.
We have studied the unique relationship between owners and external executives, and examined the key steps to making external executives successful in family businesses – as well as the enablers that are critical to the nurturing of productive relationships with the owners.
The highlights of our study have been presented by Andreas von Specht in a Webinar on the 3rd December 2020, together with Professor Morten Bennedsen (INSEAD) and Peter Englisch (PwC). Journalist David Bain (Family Capital) then hosted a stimulating dialogue session with our distinguished family business guest speakers, Dr. Andreas Jacobs (Jacobs Holding AG) and Gilbert Ghostine (CEO of Firmenich).
A recording of our Webinar can be found here: