The Renewal/Transition/Exit stage is where the business or business assets are transferred to its successor, or the business ceases operation. Business ownership can be transferred through mergers, acquisitions or initial public offerings. A family business may be transferred to a relative. The owner may wish, or be required, to continue serving in a certain capacity – ex officio; consultant; Chairman; etc.
In every event, the future of the business and its soon to be former owner(s) is at stake. Fortunes, futures, legacies, and the results of many years of sweat, inspiration and dedication are determined. Executive Counsel offers a variety of services to ensure the smoothest possible transition, including: