Future leaders, not nepo babies: how to start family business succession

Maryann G. Bell
September 19, 2023

The term “Nepo Baby” may be offensive to some, but it sheds light on an important issue for family businesses: the next generation of family members may not be capable or deserve to lead the family business. In this article for Family Capital, Wingspan Partner Maryann G. Bell discusses the three areas in which families can better lay the foundations for Next Gen succession, avoiding the issue of unprepared successors whose values are not aligned with those of the firm:

Policies that provide pathways driven by merit allow Next Gens to earn entrance to the business and respect as they advance their careers, says Maryann. Families that do this well prepare informed future owners for service as responsible owners for all stakeholders in the business. Read the article in Family Capital to learn more about executing this strategy.

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About Maryann G. Bell

Maryann has led transformation through board work in Austin after almost two decades in finance. Maryann holds a BA from Georgetown University and an MBA from Harvard Business School.