Samuel Lum, CFA discusses opportunities and pitfalls in transitioning family-controlled businesses with Joseph P. H. Fan. Although there is a smaller proportion of family controlled businesses in the US, where most readers of CorpGov.net reside, the issues discussed are widespread enough to warrant attention. From the CFA Institute’s blog, Enterprising Investor:
In recent years, highly contentious and very public battles over estates have highlighted the need for improved succession planning among Asian family-owned businesses. Joseph P. H. Fan has spent many years studying, researching, and consulting with family-controlled business groups in Asia. In this interview, Fan discusses how an Asian family could best go about doing dynasty planning and set up a family governance and intergenerational transition framework. He also reminds the viewers of the common pitfalls and roadblocks that must be kept in mind while implementing this framework.
To view the video, go to Take 15: Asian Family-Controlled Businesses: Dynasty Planning and Leadership Transition Challenges (Video).
Also of interest, Family Business on the Couch: A Psychological Perspective, an interview from Insead.
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