During the transfer process, two components can be transferred: the assets and the management of the business. A successful succession is one that ensures the well-planned transfer of each of these components. But stakeholders have to be careful. Depending on the type of transfer process chosen (see the section Transfer Process), the assets and the management of the business may or may not be transferred at the same time, and they may or may not be transferred to the same persons.
These two components have to be distinguished right from the beginning so that the transfer process is in line with the expectations, the interests, the concerns, and the management style of both the current managing director (the incumbent) and the successor (or buyer).