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As trusted business advisors, we have frequent opportunities to address succession issues with our clients. All too often, by the time the business owners are ready to discuss the topic, it becomes a reactionary process rather than a proactive opportunity. With thousands of local business owners and company executives reaching retirement age in the next five to ten years, companies large and small alike are competing for the next wave of leadership talent. Organizations that understand that succession is an ongoing process will have a competitive advantage over those who simply approach succession as a single event.

In Spring 2008, we experienced our first Amper leadership change in 40 years when I transitioned from Managing Partner to Firm Chairman. The planning for this event, however, began more than five years in advance. Setting a formal succession timetable three years in advance helped guide the process. Many organizations could benefit from following our succession plan approach which we revisit semi-annually:

In addition to a formalized succession plan, it is important to understand that retirement does not carry the same meaning as it did even 20 years ago. Many of today’s business leaders continue to make valuable contributions well beyond the traditional retirement age. There has never been such an opportunity to take advantage of the knowledge and experience that will become available over the next 10 years!!

Phil Politziner was Managing Partner from 1965 to 2008. The role has been recently assumed by Howard Cohen. Mr. Politziner has transitioned into the role of Chairman and continues to be an important part of firm leadership. He remains active in mentoring Partners, directing key service groups, advising clients and assisting with the firm strategic planning process.