Business Succession Quotes

Abby Johnson has agreed to become Chief Executive Officer of Fidelity, reflecting a further step forward in our leadership succession plan. Abby will retain her role of President, and I will continue to serve as Chairman of the Board.

Family business management is a discipline that has evolved from an art into a science. The market for this line of education has been created by the growing recognition of family-run companies that shareholders are demanding greater clarity on issues ranging from succession to the management of wealth and the distribution of profits.

Additionally, this tax forces family businesses to invest in Uncle Sam rather than the economy. When families are forced to repurchase businesses because of the death tax, that means less money is being invested in new jobs and capital expansion.

Is Walt turning over in his grave? A man named Joe Roth runs Disney right now-he gave me the go-ahead and total freedom to do whatever I wanted to do.

It is simply unfair for the Internal Revenue Service to lay claim to the bulk of a small business or farm when a death occurs. Federal tax policy should instead be geared toward helping the next generation keep these family-owned operations alive.

I think the foundation at Berkshire [Buffett's stake in Berkshirewill pass to the Buffett Foundation upon his death] will be a plus because there will be a continuation of the culture. We'd still take in fine businesses run by people who love them.

The - the early Rockefellers made their wealth from being in certain businesses and - and remained personally very wealthy. Tatas were different in the sense the future generations were not so wealthy. They - they were involved in the business, but most of the family wealth is put into trust, and the family did not, in fact, enjoy enormous wealth.

If I sat back and decided to sell the product of my father and my grandfather's work, like a leech, you know I wouldn't be able to look at myself in the mirror... I want to be able to look at my father in 10 years' time and say, 'I'm proud of you, and you should be proud of me.'

I don't know how many companies I've bought in my life, and most of them I've bought from children whose father has passed away, and they say, 'Now we're free, would you like to buy it?'

In some ways, Cash and Carter is a family business that's been handed to me.

I am fascinated to hear of the impact that ESOPs have had on work-force morale in corporations of all sizes such as Sears Roebuck, Potomac Electric Power, Lowe's Companies and the Dow Chemical Company.

I think family businesses are still crucial for India's economy, but they need to professionalize. For young entrepreneurs, too, family should play a significant part.

I will continue to help run my father's company.

From the time I was in elementary school, I wanted to work in the family business.

The number of CEOs voluntarily leaving their jobs or being forced out spiked early. Many of those companies will be turning to an interim CEO to take the reins. These temporary leaders are increasingly in demand, according to those who watch corner office trends.

No one stopped buying I.B.M. because Tom Watson wasn't there, but they stopped buying Elizabeth Arden because she wasn't there.

We have very strong succession plans across all group companies. But we do not comment on it. The retirement age is 60 years, but it does not apply to family professionals who work in the business.

My father and grandfather were businessmen. The family business was Adelphi Paints in New Jersey. When the first energy crisis came in the early 1970s, the business suffered.

Interestingly, many Indian companies where there's a father-and-son combination are being run as joint CEO organizations because the father has not given up running the company and the son is actively involved in running the company, and there is division of responsibilities.

I can help the next generation remember the lineage of great companies here and how to continue the tradition. The Valley has been very supportive of me. I should do my best to repay.

My father has created an enormous business and he's created an enormous brand for himself, and I'm contributing to the business that he's built every day at The Trump Organization

My daughters will succeed me as owners of the firm.

It's a little different when you spend 30 years developing all these companies that we just ask [Donald Trump] to sell them. So I don't think that's a fair request.

It's a very difficult business, and I'm very interested in the future of it after I'm gone, and I thought that if I can't produce a strong management team here myself, and I can find better management elsewhere, then I should sell it.

I certainly have no desire to sell a good controlled business run by people I like and admire, merely to obtain a fancy price. However, specific conditions may cause the sale of one operating unit at some point.