"Think timely and thoroughly about future leadership within your family business"
The transfer of a family business from one generation to the next is a challenging and complex process that involves much more than financial and legal aspects. This is demonstrated by Zuidnatie, which has specialized in port logistics, cargo handling and storage in the Port of Antwerp for over 150 years. In 2010, Stéphanie Feys took over the helm from her father. In our most recent episode of Tomorrow Talks, Marleen Celen, Director of Private Wealth Management, speaks with Stéphanie Feys and shares some important points of focus.
Consider a family charter
"First and foremost, it's important to think ahead about who can and who wants to lead the company in the future. What is the goal and ambition of the company? Everyone must be aligned to this. Perhaps one of the children wants to take over the company. If not, you can look for an external CEO, and the children can remain as shareholders in the company.
During a succession process, it's essential to ensure a clear division of roles and communication with the staff to avoid tensions. A family charter and good guidance by experts can help with this. Also, considering an appropriate structure and a board of directors with external members can be useful."
Leave your own mark
"It’s not easy to follow in the footsteps of one of your parents when you take over the company from them. You can prepare, but you will still adopt a different style and have different emphases. Think carefully about how you want to approach this.
Additionally, the a new generation of business leaders often gives an extra boost to sustainable business practices within the a family enterprise. In the logistics sector, ABN AMRO’s experts see an important opportunity in the European Corporate Sustainability Directive (CSRD). It's a good starting point for engaging with clients and taking initiatives."
Seek advice and communicate
"Taking over a company, making it sustainable and innovating involves a lot. And you're not the only one facing certain challenges. It's important to talk to other entrepreneurs to exchange experiences and learn from each other. But also make sure you get good advice from experts. Within ABN AMRO, we have a lot of sector expertise, allowing us to act as a strategic sparring partner for our clients."
