At a fourth generation family-owned manufacturing business, the shareholder group had become large and dispersed, with few of the next generation involved in the business. The older generation working at the company were looking to step back, but there was no clear plan for succession.
We helped the family define their objectives and develop governance guidelines to manage the relationship between the family and the business. This involved them drafting their family constitution and drawing up a clear succession plan, plus procedures for selecting and developing family directors, a family communications strategy and a programme to support responsible family ownership.