Managing Succession Across Generations

Two brothers disagreed about the roles their children should play in their 25-year old company. One of the brother’s sons joined the company five years ago and wanted an executive promotion. The other brother thought it was too early to promote him because he showed no signs of executive ability. There were no rules for family participation in the business and no plans for how to include the next generation.

Relative Solutions’ Direction:
Using our unique Relative Solutions approach, we dealt with management, ownership and family relationships in concert to work with the brothers and their families in defining the meaning of the business to the family.

It emerged that over five generations, the family had operated several sibling-owned companies that had never successfully moved into Cousins’ Consortia. Therefore, the family defined participation rules for the next generation and learned methods for establishing a performance appraisal process. In addition, with Relative Solutions, they developed job descriptions and performance evaluations for all employees, allowing the brothers to more accurately assess their cousins and nephews.