Domino’s recently announced that its CEO will hand the role to a longtime company leader in October 2026. The move was years in the making, with a planned transition period and a successor groomed from within. Most business owners do not run a global company, but the lessons behind that handoff apply to almost any business. How a leader steps aside shapes whether a company thrives or stalls.
What Domino’s Did Right
The Domino’s transition shows what careful planning looks like. The company named Joe Jordan, a 15-year veteran, as the next CEO. The outgoing leader, Russell Weiner, will stay on as Executive Chairman to support the handoff and protect continuity.
A few choices stand out:
- They planned over several years rather than reacting to a sudden departure.
- They chose a successor who already knew the business and its people.
- They built in an overlap period so knowledge could pass on.
- They communicated the plan clearly to employees and franchisees.
Each of these reduces the risk that a leadership change throws the business off course. The result is a transition that looks calm from the outside, which is the point.
Why This Matters for Smaller Businesses
Most owners assume they have time. Then a sale, an illness, or a retirement arrives, and there is no plan. The numbers tell the story.
Research hosted by the National Institutes of Health reports that only about 30% of family businesses survive into the second generation.
Poor planning, family conflict, and unprepared successors drive much of that loss. The same forces affect non-family businesses too. A partner buyout or an unexpected death can stall any company that has not prepared.
Building Your Own Succession Plan
You do not need a board of directors to plan well. You need a clear process and the right documents. Putting them in place early gives you room to adjust as the business and your family change. A strong business succession planning approach usually covers:
- Who takes over, whether a family member, a partner, or a key employee.
- A buy-sell agreement that sets terms and a price for ownership transfers.
- A fair valuation of the business, updated over time.
- Funding, often through life insurance, so a buyout can actually happen.
- A plan for sudden death or disability, not just a planned retirement.
The right mix depends on your goals, your family, and how you want the business to continue.
Start Before You Need To
The hardest part is starting early. Like Domino’s, the best transitions begin years ahead, with time to train a successor and work out the details. A plan written under pressure, after an owner is gone, rarely matches one built with care. A business succession planning lawyer can put these pieces in writing and align them with your estate plan and tax goals.
Estate Planning Pros helps owners design business succession planning that keeps the company strong through the next leadership change. If you own a business, the time to plan its future is well before you step away. Talk with an attorney about how to structure a transition that protects your company, your family, and the people who depend on it.