Succession is quite significant for a family business. The choice of the ‘right’ successor plays an important role in ensuring smooth transition of family business and its future success. Though extensive research has been done on succession in family business, the desirable qualities of a potential successor are yet to be firmly established. Identifying this as a major research gap, prominent family business researchers James Chrisman, Jess Chua and Pramodita Sharma studied Canadian family businesses to ascertain important desirable attributes of successors in family businesses. In this article, the authors presented their astute findings on successor’s attributes and discussed its managerial implications. Read More…