CORPORATE GOVERNANCE FAMILY SUCCESSION Emerson Ramalho

Abstract

The aim of this study was to demonstrate through bibliographic investigation, how the practice of corporate governance can help family businesses to differentiate themselves in the market, valuing their strengths, solidifying their brand and ensuring continuity for future generations. Family businesses need to manage conflicts of relationships and individual interests, and corporate governance can help in this process, combining professionalism, ethics and growth, aiming at accountability for results, in line with country laws and management strategy. We used several books, articles and studies published on the theme from 1989 to 2017. From the above, it was possible to understand that succession in family businesses is considered an important and often delicate period. It is a fact that succession will occur in all family businesses, regardless of their size or line of business, and this process will involve the former successor, the new successor, the family, the company, market and community. In an attempt to minimize problems, it is essential that those involved in the succession process undertake a series of possible preventive actions and should involve all parties involved in order to facilitate the process and avoid potential conflicts.