Passing the Torch: Planning for Succession

Succession planning is one of the most critical—and often most neglected—parts of running a business. In this episode of INcorporate, hosts Susan Steffan and Jordan Lema explore the real-world challenges and strategies behind leadership transition in family businesses. Joining Susan and Jordan in the studio are two guests with firsthand experience: Kathleen Chiavetta, a third-generation owner navigating the legacy of her family business. Shawn Buffum, a non-family CEO who stepped in to lead through a major transition. Together, they unpack what succession looks like in practice. From navigating expectations and preserving culture, to building a formal plan. If you're a business owner thinking about the future, this episode is packed with candid insights, actionable advice, and stories you don’t want to miss. Topics include: What they wish they knew earlier in the process How to prepare for leadership transitions Balancing tradition with innovation The role of communication and advisors  Don’t leave your legacy to chance—tune in and learn how to pass the torch with confidence. Chiavetta's Orville's Home Appliances Presented by UB School of Management’s Center for Entrepreneurial Leadership and Lemur Studios.