Great to see an article that clearly demonstrates that whilst there are obvious links between the two, there are significant difference between succession and the ongoing management and leadership of the business (succession planning) and the exit of the individual to new ventures.

In the case of the family business leader it may be retirement and coming to terms with what to do next, financial security and achieving specific ambitions.

All too often the needs and aspirations of the departing leader are not satisfactorily addressed and there can be problems where they are unclear over their role and continue to meddle in the affairs of the business too.

Clearly, the needs of the individuals are important and need to be addressed, as does the future management and leadership of the business, possibly by the next generation.