We Need to Talk About Succession

Running a family business, be it large or small, is an all-encompassing effort. There are no sick days, no sense of leaving it all at the office at 5:00 pm when you punch out for the day. Because of this, it is very easy for the role of CEO to become less of a job title and more of one’s sense of identity. But who do you become when it’s time to hand over the reins to the next generation? That very question is the driving force behind an Australian husband and wife team who consult with and guide large family business owners. Gianni and Danielle Fracchia are Founders of Fracchia & Co., a discreet family cohesion and early-stage succession consultancy firm. Their expertise is in working with affluent parents and couples, and large family business owners across two areas: (1) building a cohesive family unit and (2) early stage succession planning. Danielle recently published a book titled, Putting Yourself Before Your Successor, and together, they launched the inaugural Global Large Family Business Succession & Transition Forum. Here, 48 outgoing CEO’s gathered to discuss issues, fears, and concerns that only their peers could understand and relate to. Recently, Tharawat Magazine had the opportunity to sit down with Gianni to discuss the tricky prospect of family business succession and the future of Fracchia and Co.