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Governance : Communication

Succession in family business can be fraught with difficulties,with one generation often blaming the other for any problems encountered. Tom Davidow explains that to ensure a smooth transition, an open dialogue and an open mind are essential for all parties

Don’t let those close to you delay your decision to retire and pass on the baton. Once the planning process is complete, says Tom Davidow, work together as a family and commit to the change – it can be a positive move for you, your family members and the business

Is passing the baton just a question of the transfer of management responsibility and away we go?

Tom Davidow is founder and principal of Thomas D Davidow & Associates. Dr. Davidow has more than 20 years of experience working with family controlled enterprises. He is based in Brookline, MA.

Observers speculate that Fidel Castro’s brother Raul will usher in open markets, better foreign relations and a ‘nicer’ communist dictatorship for the Cuban people. This is one family business succession that could change everything – or nothing, finds Melanie Stern

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