Comerica Bank gathered Charlotte business leaders at Steak 48 in SouthPark for a discussion about how to successfully plan for a business transition. The dinner featured a transparent conversation about the challenges of succession planning and how business leaders can set their company up for a smooth handoff.
Local business owners and operators shared their transition stories, including how they navigated complex family dynamics and partnership conflict. They also offered best practices on how to conduct successful transition discussions, how to establish career pathing and more.
One key takeaway was the unique nature of every business. From advertising to retail, forklifts to office supplies, these Charlotte business owners faced individual challenges establishing a succession plan to sustain the business. By sharing their lessons learned, participating business leaders were able to gain insights from each other and offer valuable experience.
“To hear that there are people around the table who are in the second, third or fourth generation of family-owned businesses is truly amazing,” said Jack Maier, Senior Managing Director and Head of Investment Banking for Comerica Bank. “My hat is off to you for having sustained a business through multiple generations. It’s one of the most difficult things you can do.”
For a detailed summary of the dinner, download Succession Planning: The Pursuit of Successful Generational Leadership Transition. - PDF (21.1 MB)(PDF, 21 MB)
