GERMAN COMPANIES have, like their nation itself, a track record for being staid. Albert Darboven, a coffee magnate, pressed his own boy Arthur out of JJ Darboven and tried to adopt a friend as his successor and successor. The fight among the billionaire scions of the Tengelmann retail empire led to speculation that Karl-Erivan Haub, the group’s fifth-generation CEO, faked his own death in a skiing accident.
Apart from ripping households apart and tearing down reputations, such fights damage investor worth– consisting of that accumulating to the warring clans. Hermann Simon, a management consultant to numerous powerhouses in Germany’s Mittelstand of medium-sized companies, states succession is their greatest issue. Households that quarrel danger a split, a sale to a rival or insolvency. With early planning and conversations lots of rows might be prevented. Most creators prefer to keep their choices open. And couple of wish to ponder retirement.
More than 90%of German …
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