How do you keep a successful company, particularly a family-run business, going – and growing – when the current management team is already getting on in years and needs to turn over the reins to the next generation?
With many of its member-firms being family-owned ventures, the Association of Carriers and Equipment Lessors (ACEL) focused on this question during its latest general membership meeting held on October 28, 2019 at One Shangri-La Place in Mandaluyong City. And to shed light on the issue, it invited a “lighthouse” to be the event’s guest speaker.
“Even in a family-owned business, there must be a match of passion and strengths with each job role,” Jennifer Marie “Jennie” Verano emphasized in her presentation on “Succession Planning for the Next Generation.” This means, she said, that one should not be given a management position simply because he is family; he must have the necessary skill set and attitude that will enable him to handle the job well. To help ensure this, she advised ACEL members “to involve the next-generation leaders in the business early on.”
Verano is an organizational development consultant, coach and facilitator from Lighthouse Leadership Training and Consultancy. With 24 years of experience as an executive coach, she has dedicated herself to be a “lighthouse” who guides clients towards success and abundance.
Aside from Verano’s much-applauded talk, the meeting also featured presentations from Powertrac Incorporated and EAP Phils. Inc. In addition, three new ACEL members were inducted during the event. Warmly welcomed into the Association were Chriscole Construction and Development Corp., Uptime Earthmoving Solutions Inc. and HMR Philippines.
ACEL’s fourth general membership meeting for 2019, the October gathering was sponsored by Bridges Framework, Boysen Philippines, Civic Merchandising Inc., Cleamco Industrial Corporation (an ACEL’s anniversary sponsor), CM Pancho Construction Inc., Eaglecor Inc. (donor), EAP Phils. Inc., Faequip Corporation, Frey- Fil Corporation, Halrey Construction Inc., HD Megatrucks and Equipment Corp., Inframachineries Corporation (an ACEL Christmas party sponsor), E. Manalo & Company Inc., JVF Commercial & Project Development Support Services, Megawide Construction Corp., M.E. Sicat Construction Inc., Olympic Engineering & Sales Corp., Powertrac Inc., Prime BMD and RMD Kwikform Phils. Inc.