Convincing overbearing parents you’re ready to shine

Taking over control of a family business is usually a difficult process, but it doesn’t have to be if the succession process is handled well.

The world of family businesses is full of stories of the next generation struggling to deal with domineering parents and trying to find the courage to speak out. There’s the very public and long-running spat within Australia’s Rinehart family, which saw Gina Rinehart’s children trying to remove her as trustee of their multi-billion-dollar family trust.

In the US, octogenarian Rupert Murdoch still chairs media conglomerate News Corp. Confectioner Tootsie Roll Industries is headed by a husband and wife team, Melvin and Ellen Gordon, who are in their 90s and 80s respectively.

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