HBO’s ‘Succession’ Provides Business Succession Insights And LessonsDecember 3, 2021 | by Gary Botwinick
As published in Forbes, December 3, 2021.
By Edward Segal
HBO’s hit show, Succession follows a dysfunctional family as they navigate the complexities (and drama) of running a family-owned conglomerate headquartered in New York City. While the show is pure fiction, journalist Edward Segal draws parallels to real-life business owners facing succession planning challenges.
Gary Botwinick, Einhorn Barbarito’s Co-Managing Partner and Chair of the Wills, Trusts & Estates and Taxation practice groups, was interviewed for the article and provided important insights for business owners.
“Succession reflects the dangers of not putting together a well-thought-out plan for managing a successful business as it passes from one generation to another,” he explained. “The angling for influence by the second generation not only negatively affects the success of the business, but it also negatively affects the relationships of the family members among each other. The infighting makes for good entertainment, but it is often devastating to a successful family enterprise.”