Shockwaves through the system Cases like this bring home the need for family businesses to prepare robust succession plans to ensure their companies can weather unforeseen tragedies and times of strife. The sudden and unexpected loss of an heir or principle is more common than often thought in the family business community, say experts, advisers, and academics. “When the head or another prominent


figure from the family passes away unexpectedly, other family members can find themselves on a ship that not only has the wind taken out of its sails, but is missing its map and compass,” says Catherine Grum, KPMG’s UK head of family office services.


PHOTOGRAPHY: PRESS ASSOCIATION


Above: Experienced alpinist and skier Karl-Erivan Haub, of Tengelmann, was in Zermatt to train for a ski race when he failed to return to his hotel on 7 April


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