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Bryan Haynes Comments on the Need for Effective Succession Planning
June 22, 2009
In Jim Middlemiss's Financial Post article, “Money is Stronger Than Blood,” the reality of inheritance/succession disputes in family companies is examined. Citing high profile examples such as the McCains, Waxmans, and the Cuddys, the need for clear succession planning is stated. Bryan Haynes discusses the issue, “I think there are lots of family disputes that arise because of poor succession planning….the person who founded the business will hand it over to several children when only one or two are interested in running the business or have business savvy or sense.”