
Early planning is vital to smooth transition of power
When David Schwartz, owner of Harry W. Schwartz Bookshops, died of cancer in June, not only was he remembered for his talent as an independent bookseller, but also praised for his foresight in preserving the company's legacy.
Three years ago, Schwartz crafted a succession plan that included buying out business partners, transferring business responsibilities to others within the company and training future managers, all the while holding to the company's mission.
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Early planning is vital to smooth transition of power