In this issue, the 2021 Entrepreneurial Excellence (E-Day) Award winners and Society of Innovators honorees overcame hurdles to end the year strong.
Successful transition
Northwest Indiana experts say a succession plan is essential when they need to replace top-level leaders who are retiring or moving on to other challenges.
Leadership potential
When it comes to succession planning, the task can prove daunting especially for an organization that has enjoyed prosperity under stable leadership for decades. Add in a pandemic and a financial crisis and well-laid plans took unique twists and turns to future plans during these unprecedented times.
Holladay Properties CEO John Phair stepping down from post and names COO Tim Healy as successor
John Phair, who has served as president and CEO of South Bend-based Holladay Properties the past 20 years, is stepping down from the post.
Be smart, plan for what’s next
Experts say best succession plans prepared in advance, not out of last-minute necessity or tragedy Mylese Tucker never considered having a succession plan for her business, Nature’s Cupboard, until she served on the board of the Independent Natural Foods Retailer Association. One of the group’s first strategic goals was to implement a succession plan. “We […]
Anatomy of buy-sell agreement
Owners usually have two choices when considering how companies will go on without them Succession planning is vital to the continuation of any business. And when there are multiple owners—partners, members, shareholders—no single document is more important than a comprehensive, up-to-date buy-sell agreement. Failure to have such an agreement adds confusion and stress at the […]
Tips for making plan for future
Solid succession strategies keep companies growing, prospering Pete Korellis knows his business and those who work for him will be taken care of long after he decides to step away from his company. He recognizes succession plans are vital for entrepreneurs to ensure their businesses thrive in the future. “A well-thought succession plan is one […]