Grow from Within, Offer Appropriate Incentives, and Establish Proper Governance
White paper by: William J. Ferguson, Ferguson Partners Ltd.
CHICAGO, Nov. 10, 2014 (GLOBE NEWSWIRE) -- Ferguson Partners Ltd. released a new white paper today that offers a frank and candid discussion of the problems and challenges of CEO succession in a family-owned real estate business, and the solutions that have proven effective among companies that have made (or are in the midst of making) the transition.
In order to preserve the business, as well as the family ties, the onus is on the family to discuss succession early on, before the founder/owner or other family CEO is no longer able to lead the firm. Succession works best when there are good candidates in the pipeline. It is best to avoid appointing a new CEO immediately. Allowing succession candidates to participate in property equity and possibly corporate profitability, and encouraging proper governance through an external board, are also important factors to ensuring a smooth leadership transition.
This article/white paper includes insight from the following individuals:
|Jeff T. Blau|
|CEO and General Partner|
|Martin S. Burger|
|Paul, Hastings, Janofsky & Walker|
|President and CEO|
|The Swig Company|
|Skadden, Arps, Slate, Meagher & Flom|
|Glenn A. Shannon|
|Shorenstein Properties, LLC|
About FPL Advisory Group
FPL Advisory Group is a global professional services firm specializing in executive and director recruitment, compensation consulting, and organizational, financial & strategic consulting. For more than 20 years, FPL's consultants have acted as trusted advisors to senior leaders at companies throughout the real estate and financial services industries.
FPL is comprised of three primary operating companies that work together to serve a common client base. Ferguson Partners Ltd. provides executive and director recruitment, succession planning, and board assessment services, FPL Associates provides compensation consulting services, and FPL Consulting provides a range of organizational, financial and strategic consulting services. FPL is headquartered in Chicago, with offices in Boston, New York, London, Hong Kong, San Francisco, Singapore, Tokyo, and Toronto.
CONTACT: Julia Gier 312.893.2340 firstname.lastname@example.org
Source:FPL Advisory Group