An effective ownership transition plan represents a critical stage in the life of today’s leading structural engineering firms. Successful plans enable senior principals to identify, attract and retain the next generation of leaders, ensure firm continuity and team building, break down walls between owners and non-owners, and provide retiring owners with an exit strategy that rewards their efforts in building the firm. Proper succession planning can also create opportunities to target new clients, disciplines and audiences and expand the firm’s geographic reach.

This presentation will explore the latest trends in the world of ownership transition and help readers avoid common pitfalls that can derail efforts to achieve a successful transition—from waiting too long to develop a plan, selecting the wrong candidates for ownership and making the cost of ownership unaffordable. Topics covered will include: designing and implementing an ownership transition program that best fits your firm’s values and culture; maximizing your firm’s worth; choosing appropriate transfer mechanisms; establishing clear performance criteria for candidates and owners; and identifying and nurturing the next generation of leaders. The presenters, who are members of Fox Rothschild’s Architecture, Engineering and Design Professional Firms practice group and co-authored and contributed to the popular John Wiley & Sons publication Architect’s Essentials of Starting, Assessing, and Transitioning a Design Firm, will also illustrate creative ways in which senior principals may further enhanchaoce the value of the transitioning process through the use of the appropriate succession mechanisms, including management buyouts (MBOs), employee stock ownership plans (ESOPs), mergers & acquisitions (M&A), or a combination of strategies.

Speakers:
Rachel Schaefer, J.D., Partner, Fox Rothchild 
Syvia L. Magid, Partner, Fox Rothschild