Succession becomes a high-priority strategic issue in the absence of a family successor who can, or will, take over the management of the company and ensure its continuity. A company's worth depends decisively on the guaranteed existence of a qualified management team.

Main issues concerning succession in a company:

- When will the succession issue arise?
- Will it entail the sale of the entire business or a part of the equity (majority stake)?
- Is there a possibility of a management buy-out or buy-in?
- Can other family members ensure succession to the owner? Which other qualifications should be
xconsidered for selecting the family member?
- Which financial strategies should be pursued?
- Can a trusteeship be considered for bridging the period of economic slowdown?
- Can the company be entered into a larger organisation through an alliance or cross
xshareholding? The aim is to add value.
- Through which strategies can the family assets be protected after the owner's withdrawal?