Tag: Succession

Carl Icahn Sets Succession Plan; Corporate Raider Tormented Time Warner & Lionsgate

Longtime corporate raider Carl Icahn, who famously tried to break up Time Warner in 2006 and takeover Lionsgate in 2010, announced a succession plan Thursday where his son Brett to succeed him as CEO of the family’s investment business — in seven years.

During that time, the younger Icahn will join the board, manage a portfolio of assets “subject to certain veto rights by Carl Icahn” and purchase $10 million worth of depositary units in the publicly-traded company from his father. He’ll become chairman of Icahn Enterprises and CEO of the investment business “following the end of the 7-year term of the Agreement or earlier if Carl Icahn should so determine,” the firm announced.

Brett’s been a portfolio manager with the company since 2014. Now, along with his father, he’ll oversee three new managers who will work in the Investment segment: Gary Hu, most recently an analyst with Silver Point

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Here’s how a succession plan could actually save your small business

There may be a surprising silver lining to the Covid-19 crisis for some small businesses.

Nearly 60% of small business owners said there has been at least one positive thing to emerge from managing through the coronavirus pandemic that will be continued by their organization in the future, a new report has found.

Wilmington Trust’s upcoming Business Owners’ Outlook shows that for some entrepreneurs that may mean working remotely or having better communication with employees. For others, it could be creating or revising a plan for what would happen if another unexpected event hit their business.

The coronavirus pandemic has created many unknowns and highlights several questions that many small business owners need to answer: Who would run your business if you were sick or unable to work? How can you sell your company in the middle of this health and economic crisis?

Livelihood at risk

“You’re putting your livelihood,

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