If no family member is willing to take over the company, external management can offer a viable succession solution while ownership remains within the family. Dr. Christian Neusser (University of Siegen) highlights the challenges that the new management may face and the measures that can help to support the succession process.
The article “External Succession in Family-Owned Mittelstand Manufacturing Firms in Germany” has been published as part of the policy brief series “Entrepreneurship in Focus” by FGF and IfM Bonn.