Ignoring the strategic landscape of the business itself, family firms can focus too heavily on leadership transition because of emotional reasons, says Andrew Keyt. Has succession overshadowed the harder long-term business goals?
When PricewaterhouseCoopers launched its survey of Irish family businesses earlier this year it found the key threat to all family businesses was succession, and yet only 51% of Irish family businesses have a formal succession plan in place. PwC’s Paul Hennessy and Dermot Reilly explain why
Antonio García (18) worked for Mr Garza in a laboratory preparing food supplements. Antonio was a committed, hardworking and loyal employee. Mr Garza (72) wanted to retire and have some time to enjoy life.