Succession has rarely been as visible or as openly discussed as it is today. High-profile family battles played out in the media, alongside popular portrayals such as Netflix’s Succession, have brought what was once a boardroom-only topic firmly into the public eye.

What was traditionally confined to a director’s textbook is now a live, pressing issue for founders, families and boards alike. And rightly so. Succession is no longer something to be considered “one day”; it is a strategic priority that demands early, thoughtful attention.

In my role as a Non-Executive Director across a number of boards, I see succession move from theory into practice. From my perspective, the focus is firmly on the framework: the process, the decision-making and the governance that underpins a successful transition. While execution ultimately becomes an operational challenge, the quality of the outcome is shaped much earlier at board level.

So why is the non-executive perspective so critical?

Quite simply, I bring a lens that may not otherwise be on the kaleidoscope. I bring experience, having lived through the evolution of a complex business over more than 30 years, navigating change from one era to the next while keeping an eye firmly on the future. That experience allows me to recognise patterns, anticipate risks and challenge assumptions constructively.

Just as importantly, I bring objectivity. Succession discussions most often arise in family businesses or privately-owned companies with passionate founders and deeply invested leadership teams. Emotion is entirely natural but it can also cloud judgement. As a NED, I am able to step back, remove emotion from the equation and offer an external perspective that is grounded in long-term sustainability rather than short-term sentiment.

This is where the real value lies. A strong non-executive director can help broaden the conversation, introduce alternative solutions and challenge what “success” really looks like for the next generation of leadership. Succession is not simply about replacement; it is about continuity, capability and future relevance.

Recent discussions at the Guernsey Finance Private Wealth Forum reinforced just how central this issue has become. The 2025 Forum, themed From Startup to Legacy: Building and Preserving Wealth, explored how emerging entrepreneurs across tech, sport, social media and entertainment are reshaping expectations around wealth planning and generational transition highlighting that effective long-term planning must now balance innovation with continuity.

Data shared at the event echoed global trends: 78% of wealth creators* prioritise financial security for future generations, yet many still struggle with the structural and behavioural aspects of succession planning. That gap between intention and execution is where independent directors can make a meaningful difference.

Real-World Succession in Action

To illustrate why robust governance matters, consider an anonymised case involving a founder of a rapidly growing manufacturing business. The founder’s children were ready to inherit leadership but lacked practical experience in managing market downturns. As tensions rose, the board invited independent directors to co-design a transition roadmap. Through structured mentoring, scenario planning and clear performance milestones, the successors gained confidence and demonstrated capability ultimately preserving both shareholder value and family harmony.

In another example, a long-established family office faced internal conflict over investment direction as the next generation became socially and environmentally focused. Early succession discussions had not anticipated this shift. Introducing a governance framework that included family charters, agreed values and external fiduciary advisors helped surface these differing priorities in a structured way, leading to a refreshed investment policy that aligned economic goals with emerging family values.

These examples reflect what advisers at the Guernsey Private Wealth Forum underlined: that education, communication and early engagement across generations are vital to successful succession discussions.

We only need to look at recent, very public succession failures, to see what can happen when planning is delayed, conversations are avoided, or governance is weak.

The recent Murdoch family courtroom drama highlighted a board failure to uphold independent succession planning, instead allowing Rupert Murdoch to dominate the process through a family trust structure that was inherently ineffective and ultimately concentrated full control of succession in his hands.

The UK Cooperative Group failed because its succession planning prioritised values and internal representation over proven financial and risk expertise, leaving it without capable leadership when the bank faced regulatory and capital stress.

At Carillion, succession planning failed by entrenching a small, long-standing leadership group with no credible turnaround successors, while at JD Sports Fashion it failed through over-reliance on a dominant founder-led model, leaving limited independent leadership depth and weak contingency beyond the executive centre.

In each case, the absence of a strong, independent board voice is striking.

Succession done well protects value, people and legacy. And from a director’s lens, particularly that of a non-executive, it is one of the most important and most impactful responsibilities we hold.

*Source: Guernsey Finance