Family firms

Intergenerational ownership and CEO transition

Changes in the management of a family business can be a contentious and risky affaire. Successors often have big shoes to fill and the weight of the family’s future success on their shoulders.

Approximately 70% of Norwegian family-owned firms that undergo a CEO transition select a successor from within the circle of the family (“family successions”) and 30% select a CEO that is unrelated to the firm’s controlling owner-family (“unrelated successions”).