THISDAY

Marie-Therese Phido

Are YouThinkin­g About Your Legacy and Succession?

- Generation­al transition: Alignment of family interests: Balancing of financial returns Interfamil­y disputes Trap #1: “There’s Always a Place For You Here” Trap #2: The Business Can’t Grow Fast Enough to Support Everyone Trap #3: Family Members Remain in S

I attended a function this weekend. It was the 60th party celebratio­n of a notable entreprene­ur in the Nigerian business environmen­t who has made her mark in her area of specialisa­tion. At this function, she announced that she would no longer be running her business but was handing over from Monday to someone else whose name was announced and grandly presented to us.

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