Mr. Twerenbold senior made the right decision by making succession arrangements early on instead of putting them off until a later date. When he, as chairman of the board of directors, suffered a fatal accident, his successor had already been chosen. Karim Twerenbold had to take over the Twerenbold Reisen group sooner than expected. But it wasn't a jump in at the deep end. The family business had been a part of Karim Twerenbold’s life ever since his earliest childhood – and he had been a part of the business. He knows from experience just how important succession planning is. Despite his young age, Karim Twerenbold has already made plans to secure the future of the company in case of another emergency situation.
What you should watch out for
It's never too late to plan for unexpected circumstances or a forced succession due to external factors. For the sake of your company and your family. That's why:
- You should safeguard yourself
- You should safeguard your family and partners – not just financially, but legally as well
- You should make sure that your company remains operational at all times
How we can support you
- We will help you plan for retirement and give you advice on the long-term structuring of all your assets
- We will assist you with the drafting of powers of attorney, wills, inheritance contracts, advance directives and shareholders’ agreements
- We will discuss the feasibility and the advantages and disadvantages of different succession options, and work out the best succession solution to suit you
- We will show you how to take precautions to make sure your company remains operational, even in an emergency situation
The best expertise to meet your needs
Whatever questions you are asking yourself as an entrepreneur, nobody offers as much experience, expertise and inspiration as UBS. We will provide a team of experienced specialists from a variety of fields, drawn together especially to meet your requirements. We will examine your situation as a whole – as an entrepreneur and a private individual.
How other entrepreneurs have succeeded
Right from the start: plan your assets
Entrepreneurs often invest all their assets in their business. “On”, the world's fastest growing running shoe brand, has taken the right precautions by adopting an integrated approach to structuring its assets early on.
Reaping the rewards: with the best succession solution
Nobody likes thinking about what will happen when it’s time to pass on their own life’s work. Yet the day inevitably comes when they have to hand over to someone else. Jenny Science, a company that specializes in high-tech engine technologies, played out various scenarios.
Benefit from our experience
Take part in discussions with our specialists and with people who are in a similar situation
It is our pleasure to invite you to our “Business succession” event. You will have the opportunity to take part in discussions with our specialists and with people near you who are in a similar situation. Get advice in a small group, share your experience with others and discover various courses of action.
How can you ensure successful succession planning?
This extensive publication features a large number of thought-provoking ideas and practical tips on financial and operational business succession.
Who should take over?
Envisage alternatives and expand your entrepreneurial room for maneuver – this flowchart offers a simple guide.
Learn from other SMEs
How did other companies cope when faced with similar difficulties? Read more case studies at SME Impulse.