Succession: The need to balance fresh faces with family-focus

Some of the world’s biggest companies are family run – from Walmart to Comcast, Dyson to Aldi – but what makes such businesses so appealing to consumers and how do they plan for succession to retain their credentials? In terms of the latter it’s not as simple as just assuming or hoping that the next generation will step up to take over the reins when the time comes, or even that such an option remains viable since the changes in inheritance tax introduced in the 2024 Budget, even though they were more favourably amended at the end of last year.