Russell Reynolds Associates Launches Specialized Family Enterprise Advisory Practice to Shape Next-Generation Leadership

NEW YORK – Jan. 28, 2025 – Russell Reynolds Associates (RRA), the leading global leadership advisory firm, today announced the launch of its Family Enterprise Advisory practice, formalizing their distinctive approach to helping family-owned businesses navigate the complexities of modern leadership and secure their multi-generational legacies.

In today's rapidly evolving business landscape, family enterprises face unprecedented challenges that demand swift, transparent responses and forward-thinking leadership. RRA’s research shows that only:

• 23% of family enterprise leaders globally describe their succession practices as “proactive.”
• 43% of family enterprise leaders globally say their organization is ahead of competitors on innovation.
• 54% of family enterprise leaders globally think their organization maintains operational excellence.

As these organizations work to ensure their longevity across generations, they require a partner who understands both their unique heritage and their future aspirations.

“We recognize that family enterprises represent something extraordinary—where legacy meets innovation, family meets business and shared values create powerful business advantages,” said Justus O’Brien, global leader of RRA’s family enterprise advisory practice. “Our commitment extends beyond traditional consulting—we build enduring relationships to become trusted partners in preserving and growing family enterprises for generations to come.”

The new practice combines RRA's decades of global leadership experience with a deep understanding of family enterprise dynamics to build long-standing partnerships focused on succession planning, leadership and leadership development, transformation, culture, and board effectiveness. It is designed to help family enterprises navigate six critical tensions to thrive across generations:

• How to preserve legacy while attracting fresh perspectives.
• How to protect core values while evolving culture.
• How to secure family harmony while driving necessary change.
• How to maintain continuity while embracing innovation.
• How to develop future-focused leaders while honoring family values.
• How to establish governance that provides both control and flexibility.

"Every family enterprise represents a unique and cherished legacy," said Constantine Alexandrakis, CEO of Russell Reynolds Associates. "These businesses are often the backbone of our local communities and key drivers of innovation. In serving as trusted partners on their journey, we help them write the next chapters of the family's business story and further shape their industries, while preserving what makes them extraordinary.”

The practice serves family enterprises globally, offering tailored solutions addressing each business’s specific challenges and opportunities. RRA's family enterprise advisors work alongside clients at every stage of their journey—including founder-led, multi-generational, and externally-managed family enterprises, as well as family offices and foundations—helping them build lasting legacies in an ever-changing world.