In keeping with Chinese tradition Li Ka-shing has passed on businesses to his son to take over.
This article reflects on four attributes that a successor needs to have to take over the business - Commitment, Confidence, Knowledge and Passion - all of which are clearly sound attributes for a good leader but there should also be ability and the need for the successor to have the respect of the senior team around them in order to give them the best chances of success too.
Li Ka-shing’s son Victor has a lot to live up to. Here’s how he, and any successor to a family business, can make a success of keeping it in the family Li Ka-shing made headlines around the world last week by announcing his retirement, finally putting an end to a storied 70-year career. Li famously grew up in humble surrounds and began his entrepreneurial journey selling plastic flowers, before rising to become Hong Kong’s wealthiest tycoon worth an estimated US$34.9 billion. The 89-year-old tycoon announced he would hand over his two businesses, CK Hutchison Holdings and CK Asset Holdings, to his oldest son Victor Li.