If a solution within the family should be sought, we are talking about the handover of enterprises. If a solution should be come from the outside, we are talking about corporate transaction.
The entrepreneur succession extends over a period of several years. It begins with a fundamental decision and the setting of targets. It is to decide whether and in what form the corporate is to
remain family-owned or subject to negotiation. As an information base serve the results of business model analysis and corporate evaluation.
We pay great attention at this stage on it that a consensus on decisions and objectives be found within the family.
In the next step ought structures of leadership and equity interests to be established. It is to decide who meets what decisions and what timing the power of decision is to be made. In this
connection the demands on the successor should be defined through a position analysis.
In establishing equity interest structures we ensure that minority shareholders who are not operationally active, can not stop significant investments, as well a payment mode is determined, what the company's liquidity isn't overwhelmed through withdrawing of shareholders.
The follow-up process doesn't end with the handover of the operational management to the successor, but only after a few years, until there is ensured that initiated changes are successful. Otherwise, a readjustment has to be made.
Dr.Ing. Eugen Senbert