Insider Tips on Successful Succession Planning

In this episode, host Elizabeth Ledoux is joined by Doug Damon, who is currently the Chairman of Damon Industries. Doug bought this business from his dad in 1979 and built it up over the decades. In recent years, he transitioned the ownership and management of Damon Industries to his children. 

In this episode, Elizabeth and Doug discuss the following question (which many owners who are planning to pass their business onto the two or three kids hear): “Who’s going to be the CEO?” Doug also dives into his personal views on the importance of succession planning and coaching. They also explore what worked and what didn’t work with Doug’s real-life example of transitioning his company to children. 

Visit the website for Damon Industries: http://damonq.com/ 

Connect with Elizabeth Ledoux and the Transition Strategists:

Website: https://transitionstrategists.com/ 

Facebook: https://www.facebook.com/thetransitionstrategists 

Elizabeth on LinkedIn: https://www.linkedin.com/in/elizabethledoux/ 

Transition Strategists on LinkedIn: https://www.linkedin.com/company/transitionstrategists/ 

Subscribe to "The Business Transition Roadmap with Elizabeth Ledoux" on your favorite podcast player: 

Spotify: https://spoti.fi/3MxSYA2 

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Google Podcasts: https://bit.ly/BTR-Google-Podcasts 

Get Elizabeth Ledoux and Laura Chiesman latest book, "It’s A Journey: The MUST-HAVE Roadmap to Successful Succession Planning": https://amzn.to/3oq2LQv 

This episode was produced by Story On Media & Marketing: https://www.successwithstories.com.