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After business succession it must be clear who manages the business, who approves important decisions and which control rights remain with the transferring generation or minority shareholders.
Back to overviewThe new management structure must fit the business reality. Sole management, several managers or external managers raise different control issues.
Control only works if transactions requiring approval are clearly described. Requirements that are too broad block daily work, while narrow ones may not protect enough.
Reporting duties, inspection rights and advisory boards must match the ownership structure. This keeps information and responsibility distinct.
Whoever manages carries responsibility. Resolutions, instructions and potential conflicts should be documented so they remain traceable later.