The sudden demise of two giants of the business world — Rakesh Jhunjhunwala and Cyrus Mistry — came as a shock to many.
In the medieval times, whenever a king died without a succession plan, claimants fought for the throne and the kingdom would be exposed to political conspiracies and internal turmoil. In large business conglomerates, the lack of succession planning may mean courtroom battles.
The extremely popular HBO series, Succession, poignantly depicts the challenges of passing on the baton to the next generation in a large conglomerate. In the Indian context, succession planning becomes even more complex given the joint family structure, and the societal/cultural complexities.
Please click here to read the full article by Kartik Jain and Debottam Chattopadhyay, published in The Hindu Business Line.
Kartik’s key focus area is Mergers & Acquisitions as well Private Equity transactions. He has assisted clients from the inception of the acquisition, contributed during negotiations and helped in completion of the transaction.