In the article, Bartłomiej Dmitruk, Senior Country Officer of Haitong Bank in Poland, describes the upcoming problem for owners of Polish family firms who start wondering how to retire, cash their firms out, how and to whom to transfer authority in a company. "In Poland succession is a new problem. Today’s 30/40-year-olds are actually the first generation having some assets to take over. Dilemmas of firm-owners, who have been building the Polish capitalism for years, have concerns about whether transferring the company to their children, sell it, issue shares on a stock exchange or turn for private equity support" – the author writes.
"The moment when an entrepreneur has to decide to whom and how to transfer the authority of a company is for many owners evaluative and very emotional. Both financial advisors and lawyers are actively preparing for an intensified period of work with them" – Bartłomiej Dmitruk notes. He also points out that unplanned succession is a threat to the value of firms. It also might lead to a hostile takeover of a company or, given that some of entrepreneurs would not keep up with market trends, a company might be hard to sell following a disruption in its dynamic development.
The article is also available online (Polish only)