Erell Bauduin comments in VOGUE Business on how leading companies approach succession strategy
As highlighted by recent news at LVMH and Moncler Group, succession planning remains one of the most strategically sensitive issues, especially in luxury, where the goal is for a heritage brand to outlive its founders by centuries.
Speaking to VOGUE Business, Private Client Partner Erell Bauduin, said:
The exercise requires anticipating the company’s future strategic needs, and therefore goes far beyond simply selecting a competent new leader. This topic is naturally at the heart of investor expectations. Investors need visibility on the stability of governance and often raise the subject at general meetings, frequently, with a measure of concern.
Erell further cautioned that how and when succession plans are communicated can be one of the most delicate aspects of the process, with companies often having to navigate complex legal and regulatory requirements while seeking to preserve the confidentiality of the process.
Read the full piece in VOGUE Business here.
