Peter Rayney shares a recent succession planning story.
Henry was at home convalescing from a recent bad bout of flu. Being forced to take some time off away from his business gave a rare opportunity for Henry to think about the future of ‘his’ transport logistics business.
Setting the scene
The company was currently worth some £4m. Henry was 64 years old and owned 100% of H Tudor Logistics Ltd (HTLL). He had a life partner of some 10 years (Anne), but she had no involvement in the company.
Henry looked after the operational side of the firm. He also had a daughter – Mary (now 30 years old) from his earlier marriage.
Mary worked in the business, covering finance and administration roles. She was a single parent with one five-year-old daughter (Lizzie).
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