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Succession

November 3, 2011

A change in Italian inheritance regulations may affect the way family businesses in the country deal with a generation shift, making it easier for owners to transfer the majority of a company’s shares to a selected member of the family.

A change in Italian inheritance regulations may affect the way family businesses in the country deal with a generation shift, making it easier for owners to transfer the majority of a company’s shares to a selected member of the family.

Under current quota rules called legittima, direct decedents are entitled to 50% or 75% of family assets, depending on whether they have to share the inheritance with the deceased’s spouse or not.

October 18, 2011

Only 40% of Canadian privately-owned companies have a clear succession plan in place and would be prepared in unforeseen circumstances, but the situation is better among family business owners, as 60% of them have identified their successor.  

Only 40% of Canadian privately-owned companies have a clear succession plan in place and would be prepared in unforeseen circumstances, but the situation is better among family business owners, as 60% of them have identified their successor.

These are the main findings of a new study by research institute Canadian Financial Executives Research Foundation, which carried out a survey of more than 100 financial executives working in Canadian companies.

October 18, 2011

“Third-generation hereditary succession is as grotesque at Samsung as it is in Pyongyang,” wrote a correspondent to The Economist recently. The writer was making a slightly odd comparison between one of South Korea’s most successful chaebols – the state-supported manufacturing giants that continue to dominate the country’s economy – and the bizarre personality cult of Kim il-sung that lies beyond the demilitarised zone to the north.

“Third-generation hereditary succession is as grotesque at Samsung as it is in Pyongyang,” wrote a correspondent to The Economist recently.

The writer was making a slightly odd comparison between one of South Korea’s most successful chaebols – the state-supported manufacturing giants that continue to dominate the country’s economy - and the bizarre personality cult of Kim il-sung that lies beyond the demilitarised zone to the north.

June 7, 2011

Family businesses are not well prepared for succession despite plans to change hands within the next five years, reveals a survey by PricewaterhouseCoopers released on 5 June.

Family businesses are not well prepared for succession despite plans to change hands within the next five years, reveals a survey by PricewaterhouseCoopers released on 5 June.

Kin in the game, a survey of 1600 family businesses around the world, showed that over half of the respondents don’t have a succession plan in place, although 30% of the families expect to transfer control over the next five years.

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