Succession Planning (CONT’D FROM PAGE 28)
Board Converting NEWS INTERNET DIRECTORY
sons appreciated their father’s knowledge about the in- dustry and his trusted relationships with customers, and the father appreciated a continuing opportunity for intel- lectual stimulation and company involvement. As our story of Henry and Steven suggests, costly dis- ruptions in the family business dynamic can be avoided by assessing the skills and desires of each sibling and em- ploying that knowledge to plan for their productive role in the company. An early start on a transition plan will obviate a crisis situation that threatens business survival, while al- lowing enough breathing space to grapple with unantici- pated crimps in the family dynamic. In the final analysis, transition planning is more an art than a science. “I wish there were a magic wand we could wave and guarantee that if families did these five things the future would unfold in just the way they had predicted,” said DeCiantis. “In our experience, though, that rarely if ever happens. In fact, the best we can hope for is to put in place some policies and systems that will enhance the possibilities of multi-generational success.” How prepared is your family business for leadership succession? Here are some questions to consider in order to gain clarity around your unique situation. • Have we begun discussing leadership succession well before anyone plans to retire? • Have we identified the strengths, interests, and lead- ership potential of each family member involved in the business? • Are future leaders receiving greater management re- sponsibilities and decision-making authority? • Do we have written policies governing the employ- ment, compensation, and performance expectations of family members? • Have we developed contingency plans for unexpected events such as illness, disability, death, or family dis- agreements? • Have key customer, vendor, and financial relationships been shared with the next generation rather than re- maining with a single owner? • Have we considered whether outside advisers, board members, interim executives, or fractional managers could strengthen our transition plan? • Have we openly discussed expectations so everyone understands why specific roles are being assigned? • Does our succession plan emphasize fairness based on experience and contribution? Phillip M. Perry is an
ADVANTZWARE www.advantzware.com
Advantzware provides a comprehensive system to address the business management needs of the independent box business, as well as the ERP requirements of full scale pack-
aging plants and integrated companies. AIR CONVEYING CORPORATION www.accfilter.com
Air Conveying Corporation is a leader in the industry of Pneumatic Conveying Systems and has been in business since 1968. As an equipment manufacturer rather than sim- ply a sales organization, we have complete control over the quality of material and products which make up your pro- posed system. Our equipment is found in printing, folding carton and corrugated plants throughout the world. We've been designing, manufacturing and engineering pneumatic conveying systems since 1984. We partner with our customers to ensure they operate efficiently and guar- antee our systems meet or exceed their specifications. ASDI specializes in full pull-through systems trim separators, and NFPA compliant systems with full electronic controls. AMTECH SOFTWARE www.amtechsoftware.com AIR SYSTEMS DESIGN, INC. www.airsystemsdesign.com Amtech offers the industry’s most innovative and com- prehensive corrugated and packaging ERP, integrated scheduling software, and engineered automation technol- ogy. For over 30 years, Amtech has kept our customers competitive in an ever-changing economy with customer digital storefronts and workflows, business intelligence, automated scheduling for corrugators, converting and shipping, proactive roll stock and inventory management. APEX INTERNATIONAL www.apexinternational.com World’s largest Anilox and Glue & Metering roll manufac- turer, providing the widest selection of corrugated engrav- ings and complementary services. Anilox engraving options available from our North American manufacturing facility include elongated 75°, 60°, 45°, plus Apex’s patented GTT technology. Glue rolls are produced with Hardened Stain- less Steel and a max TIR of 10 µ for Single, Double Facers.
AOPACK LTD www.aopackmachine.com
Aopack is a leading manufacturer of automatic corrugated box making machines for short-run and on-demand pro- duction. 1,200+ machines operate in 60+ countries. The BM2800-Ultra integrates digital printing, slitting, slotting, creasing, and vibrating knife cutting, delivering efficient, flexible solutions for customized corrugated box orders.
www.boardconvertingnews.com award-winning freelance writ- er and a regular contributor to Board Converting News. His by- line has appeared over 3,000 times in the nation’s business press. He can be reached at linkedin.com/ in/phillipmperry/.
30 August 17, 2026
Made with FlippingBook Digital Proposal Creator