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News and Blogs
Too Many Family Businesses Have No Succession Plan
Posted by Paul Vella on November 7, 2014
When John Simpson’s father, Jack Simpson, died at 64, he left a perfect tax plan for his estate, but no plan for who should lead CANA Construction Ltd. Initially a chief engineer, the elder Simpson had successfully bought out the Calgary-based company’s founders, but hadn’t designated his own successor. His son John had been employed at the company for most of his life, starting out with a shovel and working his way up to vice-president. But there were other contenders and no obvious plan for selecting one. Read more...
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