From Leader to Executive: Your Roadmap to C-Suite Success
Transitioning to the C-suite is as much a personal journey as it is professional. Remember, the path to the C-suite isn’t just about climbing up — but about growing into the leader your […]
Succession Management
Planning for a leadership transition can be daunting, particularly if you’re thinking about retiring in the next five to 10 years. Start assessing and developing the next generation of leaders now to prepare for a smooth handoff.
At its core, management succession planning involves the transfer of ownership and control of a firm to new management. In most cases, this might entail transferring ownership to a family member or key employee(s), selling the business to a third party, management buyout or voluntary liquidation.
As you consider your business continuity options, there are two key pieces of the puzzle to consider: money and people. Both sides must be carefully weighed if the business is to survive from one generation to the next, with the people-side often being more complex.
Clients thinking about transferring ownership look to the experts at FMI to help navigate this transition and create plans tailored to your unique situation. Our succession management consultants work with you to evaluate your talent, provide appropriate leadership development strategies, and clearly map next steps to ensure your organization is advancing in a timeframe that matches your longer-term objectives.
Our succession planning consultants help you:
- Learn the keys to evaluating and developing successful future leaders for the company.
- Gain a full understanding of the business continuity planning process and your role in making the plan a reality.
- Receive ongoing guidance relative to your company’s ownership transfer and business continuity challenges.
- Establish benchmarks to track succession readiness and outline the specific experiences and areas of expertise that a future leader will need.
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Key Benefits
Our Insights
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How the Supreme Court is Impacting Succession Planning
The U.S. Supreme Court's ruling in Connelly vs. United States requires that corporate-owned life insurance proceeds used for share redemptions upon a shareholder’s death be included in estate tax […]
Are you thinking of transferring ownership?
Let our team of experts evaluate your business and help you establish a clear direction, no matter the ultimate decisions.