Vietnam’s family businesses often owe their success to founders who made fast decisions, built trusted relationships and carried responsibility personally. But as these companies grow, the same founder-led model can become a source of dependency. Succession should therefore not be treated as a simple title handover, but as a structured business transformation.
A successful transition begins by defining the leadership and operating model the company needs for its next stage. This includes clarifying decision rights between owners, the board, the founder and management; transferring key relationships and knowledge; developing the next generation through real responsibility; and giving external executives a genuine mandate where professional management is required.The founder’s role must also evolve. Rather than remaining the hidden operational CEO, the founder should preserve strategic value while allowing others to lead. Governance should support better decisions, not create bureaucracy. Ultimately, the right transition protects both legacy and future by building a company that can continue to decide, lead and grow beyond any one individual.
