- December 25, 2021
- Posted by: Stratford Team
- Category: Business
The HBO series “Succession” follows the Roy family as the children of the Waystar Royco founder, Logan Roy, battle for his approval and, ultimately, control over the family media conglomerate.
Logan is suffering from declining health, and his children all believe they should be the heir to the family business. But, Logan has no plans on exiting the company any time soon. Without a detailed succession plan, Logan leaves his children to fight each other for control, ultimately hurting the company.
The failure to implement a succession plan can create a crisis that simmers below the surface for years, then explodes. Many business owners don’t have a written succession plan because they, too, don’t plan on retiring any time soon. However, roughly half of exits by business owners are due to unplanned, unexpected events….
