The first wave of Chinese entrepreneurs are now in their 70s and 80s and it’s time to hand over the family business to their children. But in many cases it may not happen. With greater opportunities and a more international worldview, the younger generation has their own plans. Will this lead China to a business succession crisis?
Family business succession planning is always tricky. In China it is also fraught with cultural complexities.
Succession planning is something boards need to think about constantly, and not just when the CEO is due to retire.
Succession planning in family business is often the cause of much stress. Are there ways of making the transition smooth while mitigating the risks involved?