Successful External Succession in Family Businesses
Successful External Succession in Family Businesses
Overview
Successful External Succession in Family Businesses
Succession planning has always been one of the top challenges facing family businesses. Owners of family business are not only looking at passing on a company but also a legacy to the following generations. This unique focus on long-term performance puts dynamic tension on leadership transition and especially so when an external executive is hired as CEO. This brings into question the fit of the individual to the family values and company's culture, and whether the executive is able to establish a relationship of trust with the family owners.
To study the unique relationship between owners and external executives, the INSEAD Wendel International Centre for Family Enterprise, in collaboration with PwC and AvS – International Trusted Advisors, has embarked on a pan-European research survey. They have examined the key steps to making external executives successful in family businesses and the enablers that are critical to the nurturing of productive relationships with the owners.
Join us for this Webinar & Digital Dialogue as we showcase faculty insights from Professor Morten Bennedsen, highlights from our latest family business research presented by Andreas von Specht (AvS) and Peter Englisch (PwC) as well as host a stimulating dialogue session with our distinguished family business guest speakers, Dr. Andreas Jacobs, Jacobs Family Council and Chairman of the INSEAD Board and Gilbert Ghostine, CEO of Firmenich who will share with us how family owners can pave the way for successful leadership transitions to external executives.
We are very much looking forward to an insightful dialogue session. For any additional information, feel free to contact us directly at [email protected].
We are very thankful to PwC for sponsoring the event and for the collaboration on this research study with PwC & AvS - International Trusted Advisors.
Agenda
Thursday, 3 December 2020
| 10:00 - 10:05 |
Opening Remarks Sonia Tatar, Executive Director, INSEAD Wendel International Centre for Family Enterprise and INSEAD Corporate Governance Centre |
| 10:05 - 10:20 |
Navigating the Family Business Succession Conundrum Morten Bennedsen, Academic Director of the INSEAD Wendel International Centre for Family Enterprise, The André and Rosalie Hoffmann Chaired Professor of Family Enterprise |
| 10:20 - 10:50 |
Making External Executives Successful in Family Businesses Key findings from research survey by the INSEAD Wendel International Centre for Family Enterprise in collaboration with PwC and AvS - International Trusted Advisors Peter Englisch, Global Family Business and EMEA Entrepreneurial and Private Business Leader, Partner, PwC Germany Andreas von Specht, Founder & Managing Partner, AvS - International Trusted Advisors |
| 10:50 - 11:20 |
Fireside Chat: Lessons and Insights on Family Business Leadership Transition Dr. Andreas Jacobs, Jacobs Family Council and Chairman of the INSEAD Board Gilbert Ghostine, Chief Executive Officer of Firmenich Moderated by David Bain, Financial and Business Journalist as well as Founder and Owner of Family Capital |
| 11:20 - 11:30 |
Wrap up and Closing Remarks Morten Bennedsen, Academic Director of the INSEAD Wendel International Centre for Family Enterprise, The André and Rosalie Hoffmann Chaired Professor of Family Enterprise |
Speakers & Panelists
Distinguished Family Business Guest Panelists
Chairman of the INSEAD Board Member of the Board of Jacobs Holding AG
Chairman of Sandoz, Non-Executive Director of Danone, and Four Seasons Hotels and Resorts
Faculty and Guest Speakers
Visiting Professor of Economics at INSEAD
Global Family Business and EMEA Entrepreneurial and Private Business Leader, Partner, PwC Germany
Family Shareholder and Non-Executive Director of Berenberg Bank and Shareholder of Bergos Bank AG
Moderators
Financial and business journalist as well as founder and owner of Family Capital
Executive Director of INSEAD Corporate Governance Centre and INSEAD Wendel International Centre for Family Enterprise
Pre-reading Material
CEO Succession: Maximising Success
by Carolyn Lutz and Philipp Fleischmann, AvS - International Trusted Advisors
Professionalisation of Family Firms
By Morten Bennedsen and Brian Henry
Article published on SID DIRECTORS BULLETIN 2019 Q3
To read more family business related publications, you may like to visit:
- AvS-International Trusted Advisors website
- PwC Global Family Business Services website
- INSEAD publications on family business topics
Practical Information
Technical requirements
Please click here to check in advance that you have the required system and technical configurations to support the webinar which will be hosted on Zoom conference platform.
Webinar access
We encourage you to join the webinar at least 5 minutes before the session begins to ensure that you have a proper connection ready.
Webinar etiquette
To faciliate smooth running of the agenda, we will appreciate your cooperation as we follow these etiquette:
- During the webinar, everyone will muted and your video is turned-off by default
- Please use the Q&A tab if you have a questions for the speakers
- The chat box is disabled
- The webinar is being recorded.
For further technical support, please contact us at [email protected] for assistance.
Webinar Recordings and Slide Deck
Click here for the playlist or access individual sessions below
Part 1 – Navigating the Family Business Succession Conundrum by Morten Bennedsen
Part 2 - Making External Executives Successful in Family Businesses
Part 3 - Fireside Chat with Dr Andreas Jacobs and Gilbert Ghostine
Q&A Report
We have received a number of live questions during the webinar and we are glad to share in the report the comments given by our speakers.
