Management of succession in family businesses

In the introduction of this paper, we have revealed a few issues relating to the development of family businesses in Romania and the necessity of implementing a management of succession in businesses set up after 1990. Thus, using statistical methods we have highlighted their evolution based on several criteria and by comparing them with EU and US models I have created a profile of their successor. Considering that the majority of businesses in Romania are at a stage of being handed over to next generations, we have managed to bring out the defining elements of implementing an efficient management of succession/generations with direct implications on the continuation the company's activities, the types of succession processes and management principles applied within Romanian companies. At the end of the paper we have compared the successor's profile from the Romanian business environment with the U.S. successor's profile using data gathered from Forbes charts.