Succession


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Succession

The rules of or process by which a person goes about filling a role previously held by another person. In estates, succession determines who owns the property of the decedent, with everything going to the next of kin in the absence of a will. In business, succession is the process by which one employee, especially a major executive like the CEO, is replaced by another person. In determining succession, a board of directors ought to exercise caution to ensure that an executive is not only competent, but also does not bring any conflicts of interest to the company.
References in periodicals archive ?
"Despite a steady stream of discussion about perpetuation, true succession planning takes a back seat for nearly half of agencies surveyed," says Josh Miller, research director at Channel Harvest.
The spokesperson said that considerable proportion of population of Pakistan was likely to be involved in litigation, whereby courts are required to issue orders for the grants of letters of administration and succession certificates.
For RIAs who want to take advantage of this trend, succession planning will play an important role in securing the best terms in any transaction, Caramazza says.
Succession under Sharia principally operates by a system of forced heirship or reserved shares.
The minister apprised the committee that Parliamentarians were also facing difficulties in obtaining the succession certificate, which showed what difficulties the common man would be facing.
Succession Wealth has remained fiercely independent in its ownership and in the advice it gives to its clients.
Founded in 2009, Succession Wealth offers bespoke financial planning and wealth management to more than 20,000 personal and corporate clients and looks after some [pounds sterling]7.75 billion client funds.
Newly appointed presidential spokesperson Salvador Panelo noted that the move to restore Vice President Leni Robredo to the line of succession was not yet final as this would need the people's approval.
The matter was referred by the chairman of the Senate with the idea of proposing legislation that provides for a simple mechanism, such as declaring the family tree (the Nadra-prepared Family Registration Certificate) as a succession certificate (objections, if any, can be filed in a court of law subsequently).
At last month's Women in Agriculture forum in Bangor on Dee, Farming Connect launched a new succession campaign, "Start the Conversation, It's Good to Talk".
The Family Business Council - Gulf (FBCG), the regional association of Family Business Network International (FBN), launched a book on the guidelines of family business succession planning in the GCC during a press conference hosted by HE Abdulaziz Abdulla Al Ghurair, Chairman, FBCG.