Distributors Rate Succession Plans “Decent” — Is that Enough?

One in four distributors feels truly prepared for leadership transitions, according to new MDM research findings that reveal mixed confidence in succession plans, and gaps between what companies believe they need and what they have in place. These mixed results come as many distributors of all sizes and depth have to face the same question: What happens when I leave? “We have seen a lot of small-to-midsize distributors being bought up by national players as their ownership is reaching retirement age,” wrote one industrial, safety and metalworking distributor with $51-$100 million in annual…