PANEL DISCUSSION Passing the Torch: Lessons Learned from Family Business Succession

PANEL DISCUSSION Passing the Torch: Lessons Learned from Family Business Succession

We are clearly in the middle of an ownership shift, as a generation of LBM owners prepare to pass their family businesses on to new leaders. In an industry marked by family-owned, multigenerational businesses, there is no one-size-fits-all solution when it comes to succession planning. This panel discussion includes four companies who have completed or are in the process of leadership transitions: two that chose to keep leadership in the family, and two that opted for outside, professional managers. Panelists will share insights they’ve gained along the journey—including lessons-learned, as well as tips on what to do and what not to do.