Moving to the 'next up' CEO in a family business requires trust and transparency

There is perhaps no more crucial, complex and challenging time in a family business than the succession from one generation of leadership to the next. The sustainability and growth of the company are on the line. 

The transition of a next-gen CEO is something that must be done right. But it’s not easy. The challenges are many. 

Family businesses must ensure that the new leader is competent and confident but also make necessary changes to adapt to the constantly evolving business landscape while simultaneously honoring the legacy of the past CEO and the family's heritage. It’s no small task.