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Preparing for RetirementFirst Step:Business Succession Planning
Natalie Osipova, Sarah ReuterWeek 4. Topic: Family Business
Succession & Planning
Quisque:Feugiat:243 Mauris imperdiet. Duis nec purus non dui
auctor consequat. Maecenas faucibus. Ut quis velit ac mi lacinia
euismod.Donec consectetuer, dui vitae congue rhoncus, enim libero
egestas ante. Fusce euismod tempus nulla. Donec pellentesque mattis
diam.Cras congue, sapien vitae vestibulum adipiscing, erat lacus
commodo lectus, in imperdiet massa risus vel tellus. Sed tincidunt
cursus libero.Family BusinessTime to laughNatalie Osipova, Sarah
ReuterWeek 4. Topic: Family Business Succession & Planning Tai
Po Fruit Traders Ltd. MICA discussion summary To sell or not to
sell?The final decision has not been made; however, most of the
family members were insisting on staying in the business and not
selling the company; OwnershipDavid was offered to leave the
business as he was willing to pursue his career in law; the new CEO
should be chosen among family members, being that David's brother,
sister or cousins. Ownership will be divided between family members
and David, who will now have less than 50% of shares; ManagementThe
idea was either to hire a professional manager to rule the company
and educate family members for a limited period of time, or to
manage the company as it has been managed by a family member;
Advisory BoardAdvisory board is highly recommended for Tai Po Fruit
Traders Ltd. Nathan Gibson will remain as the consultant for the
company.
The main point made during the discussion: family business
problems should be solved regarding the business side rather than
family side.
The current family owner and his son of the business De Kuyper
(in 11th generation) deliver an insight into their family
succession planning. For them, it should be differentiated btw.
passing over wealth, and passing over the business. (The owner even
recommends that owners children should first work in other
organisations after they graduate from university.)
Family business transfer to the Next
Generationhttps://www.youtube.com/watch?v=Io9aWtuSEh4Family
business succession planning What are the critical
factors?https://www.youtube.com/watch?v=OUs004-ZJR0This informative
video gives lots of tips what to consider when planning the next
steps of the business after the owners retirement in terms of,
e.g., financial planning, family dynamics, family governance and
successor preparation. Clips For Lunch breakWeek 4:MICA
ReflectionNatalie Osipova, Sarah ReuterWeek 4. Topic: Family
Business Succession & Planning Natalie Osipova, Sarah
ReuterWeek 4. Topic: Family Business Succession & Planning Week
4. Topic: Family Business Succession & Planning Natalie
Osipova, Sarah Reuter
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Week 4. Topic: Family Business Succession & Planning Natalie
Osipova, Sarah ReuterWeek 4. Topic: Family Business Succession
& Planning Natalie Osipova, Sarah Reuter
