171 | JAROSLAV FOLLPRECHT & PAVEL BOHÁČ | HOW TO MANAGE THE TRANSITION FROM FOUNDER TO CEO
- Martin Hurych
- 3. 12. 2024
- Minut čtení: 24
"Be tuned to the same string. Otherwise it can't work."
Pavel Boháč | CEO @ AIMTEC a. s.
A chemically and culturally related head perched on a professionally structured mycelium.
Just find it and you're good to go. You can hand over the business and go fishing, or build another business. Whichever makes you the happiest at the moment.
It's that simple.
But where to get such a head and not steal? How to create such a professional breeding ground? How long will it take? The very question. And so I invited two who have just completed such a journey. Each from a different side of the barricade. Jaroslav Follprecht, the founder and almost newly appointed Vice-Chairman of the Supervisory Board of AIMTEC a.s. has just handed over his competences. Pavel Boháč, the new CEO of the same company, is still getting to know the nooks and crannies of his new position. The ideal combination is to interview both of them while the handover is fresh in their minds. And that's exactly what this episode is about. And the questions? There's a lot more.
🔸 What motivated Jaroslav to start the company?
🔸 What were the parameters for selecting a new CEO?
🔸 What is the new director's assignment?
🔸 How will they know the CEO is on the right track?
🔸 What has surprised them most since the handover?
HOW TO MANAGE THE TRANSITION FROM FOUNDER TO CEO (INTERVIEW TRANSCRIPT)
Martin Hurych
Hello. I'm Martin Hurych and this is another Ignition. Today we're going to look at how to find a new CEO for a company that has been family-run and what challenges that means for both parties. Before that happens, I have a traditional request for you, if you like anything I do, like an episode or like a blog article, be sure to run to the www.martinhurych.com/ newsletter. Sign up for my newsletter there, which I call My Notebook, which at the moment is subscribed to by over 1,100 owners and directors of engineering, technology and manufacturing companies. You won't miss any more of what I have in store for you, and you'll help me invite even more great guests like today's. I have Jaroslav Follprecht here today, hello.
Jaroslav Follprecht
Hey. Hey.
Martin Hurych
Jaroslav is the founder and currently Vice Chairman of the Supervisory Board of AIMTEC. Then I have Pavel Bohac, currently CEO of the same company, hi.
Pavel Bohac
Hey. Hey.
Where would they go to relax without their mobile phone?
Martin Hurych
Before we get to AIMTEC and why I've invited you here today, I was wondering if you had to pack up now and go somewhere to chill without your phone for 14 days, as the younger generation says, where would you head?
Pavel Bohac
For me it is Šumava. It's a place where I have a lot of friends and connections, but nature definitely comes second.
Jaroslav Follprecht
Depending on what the reason would be. If it were to be that I would never meet anyone, I would go to Gavdos, which is the southernmost island towards Africa below Crete, where there is basically almost nothing except a few people and a boat.
Martin Hurych
Can you chill alone or do you need people to chill with?
Jaroslav Follprecht
I need to be alone.
What does AIMTEC do?
Martin Hurych
For those of our listeners who don't know AIMTEC, let's first tell you what you do as a company.
Pavel Bohac
We are essentially an IT company, I would characterize it as a software house/consulting company. It's a terrible combination, because the things that we develop ourselves or get from third parties, we also deliver today. Specifically, we digitize logistics and manufacturing, mainly for tier 1, tier 2 automotive suppliers, and possibly end OEMs. We're doing this for the whole world, mostly Europe, secondarily it's definitely going to be the US, so time zone -6, -9, but we also have projects in China and Australia. So far we are missing South America, we don't have much there.
What motivated Jaroslav to start the company?
Martin Hurych
That'll come. When you started the company with your partner, what was the motivation to go into this particular segment?
Jaroslav Follprecht
My partner and I thought about starting a company, but because we were warped by the teachings of time management, which always said to do a SWOT analysis, we wrote one. We originally started in Pilsen, but we wanted to go big, so by coincidence we ended up at Deloitte in Prague. We lasted there for 2 years and then it started to get us down because we couldn't do some of the things we thought would be interesting.
SAP was a financial system at the time, so they were doing things mostly in finance and we were drawn to the fact that we wanted to go into that area of the value-added process, which was manufacturing and what goes with it. You couldn't do that at Deloitte, so that was one thing, because there you would have to get the whole board of owners together and decide something. The second thing was working with know-how, which we didn't like at all there and that was probably the main thing. But the main idea was that a long time ago a great teacher of mine taught me that if I disagreed three times with the way my boss was doing something, I had to start my own company.
What's the most important thing he printed in the company?
Martin Hurych
There are a lot of software houses in the Czech Republic that write various things. If you had to say what you and your partner have imprinted on the company, what are you unique on a personal level or cultural level, what do you value the most, what have you imprinted on the company as a person, what would it be?
Jaroslav Follprecht
It is our proverbial determination to get what is possible out of people's heads and to put it somewhere in a structured way. Today, artificial intelligence successfully goes against that because it does it for us, but in the last millennium, when we started the company, there was no such thing. We invented, for example, CRM long before Microsoft ever came up with it. We started programming various other features to the address book in Lotus Notes, and that became the first CRM long before anyone else came up with it. We also created a whole system of internal structuring, categorizing items and so on to make the company as understandable as possible. It was also to be able to convey to the customer in a structured way what is not normally structured. Because if you have 4 plans, because everybody plans completely differently and it doesn't really matter, coming up with some categories and classes to divide the planning into so that we could standardise it was key. That's one of our main challenges and money generators today.
How does one live in strict structurality?
Martin Hurych
You've been with the company 10 years, you've been through a bunch of levels and positions. What's it like to live under bosses who pull knowledge from their employees and structure it that way?
Pavel Bohac
Amazing. In a way, it's raised me to be structured, not only in my work life, but in my personal life as well. I'm structured in my own right, and I enjoy the order. It's also reflected in the evolution of that CRM that Jaroslav said here, that we had for a few years before it was on the market. Today, we even pass that structuring on to partners, partner offices that are around the world, or even vendors of various other solutions. They ask us to pass on the know-how about our structuring, how to pass on the know-how to the end customers and users.
Martin Hurych
You blew the whistle on yourself in the run-up about liking handiwork. Does that mean I find everything lined up neatly on hooks in the garage, every drill has its place, etc.?
Pavel Bohac
No, it's called organized chaos and if I don't know where I have something, my wife moved it there.
How did the owners come to the conclusion to hand over the company?
Martin Hurych
Let's move on to why you're here. On July 1, you were moved from family to outside CEO, and I'm actually very interested in the process. I know a bunch of people at AIMTEC, and I know it was a year-and-a-bit process. I'd be interested to know how you felt about that on both sides of that imaginary barricade and maybe starting with how did you even figure out that it was time to hand it off to somebody and how did you figure out that it was time to hand it off to somebody outside the family. Because you and your partner both have daughters, 5 in total. What made you not consider the family line and pass it on, even though Paul is not external? How did you come to the decision that you wanted to get out and hand it over to someone else?
Jaroslav Follprecht
Let me be clear. We say that we are a family business now, but we started to be a family business in the last year or two and until then we were not a family business at all. We went to work normally with Roman, we worked normally, and it didn't occur to us at all that our family members should be employed there, even though they were there to some extent. They were in some roles, in HR, in marketing and so on, but it was never with the aim that the business should be passed down within the family.
In the last x years we started to see various offers, various M&A and such, to sell the company. So we started to think about what to do, whether it was better to sell the company or to keep it, which was the first fundamental question. For some reason, after discussions between us, we came to the conclusion that we wanted to keep it primarily because of all the stakeholders, but not the family. We hadn't really thought about that all the time and it just happened that a lady who used to work at ComAp a long time ago got into marketing. Roman and I were thinking about how to start spreading some more things around the company around values and stuff like that and she said they were doing that at their company, so we got together with the guys from ComAp who had gone through that process about 5 years before us.
I'll be back. Since we never thought about it being a family business, we started structuring it internally and that's what's terribly important and a big difference from family businesses. We started structuring the company quite fundamentally sometime after 2008, which was the first big crisis year, and that's when we started building middle management. Until then, everything was up to me in terms of operations, back office and sales and up to Roman in terms of project delivery. It was around 2008 that we started playing around with the idea that we really needed to structure the company internally. We put some internal financial management in place, we started coming up with our first management scorecards, and we started getting the company ready to be a professional entity.
Then we met the guys from ComAp and we realized that we were missing the structures that were above that, so we started building a completely formalized company. We created a really functional board of trustees body, which up until then was that we had 3 hats on our head, executive, supervisors and owners. We started to divide up those hats and it was only after it was all set up that we figured we needed to start thinking about what to do next. So we revealed to our daughters if they would be interested in being caretakers, all 5 of them said it was an interesting challenge for them and that's when we started to treat it very much like a family business.
We started to integrate ourselves into these family structures as well, we are members of the Family Business Network and various other organizations, so I would say that for us it wasn't that we were a family business, but that we went from being a professional firm to eventually being classified as a family business.
Martin Hurych
When did you decide it was time to leave some of those hats you were talking about?
Jaroslav Follprecht
That was between my 60s and 70s, because I said I was 60 and I wouldn't be there until 70, so the arithmetic average is 65. But then the Board of Supervisors pushed me to step it up a little bit. So before I turned 65, we made this exchange.
What were the parameters for the selection of the new director?
Martin Hurych
I assume Paul wasn't the only option. What were the parameters of the selection process for the new CEO? What was the most important thing for you and Roman?
Jaroslav Follprecht
The Supervisory Board has already had a hand in this. When we started playing the supervisory board, both gentlemen from ComAp, Libor and Martin, and Roman were there. At ComAp they had a foreigner on the board, so we thought we'd put another foreigner on the board, so we did a complicated selection process for two more non-executive members from outside. So we filled it with two Englishmen and part of that selection process included questions about what they imagined they would do on the growing supervisory board.
Of course, one of the things was the new director, and it was mentioned from all sides that it was ideal that the member be internal. So for a long time there was a selection process from internal members, then we flirted with an external member for a while, but eventually we went back to internal.
We agreed that the first parameter of the selection process had to be that he would be able to create that counterpart with us at all, that we would be able to set up that link between the new director and us as an emerging board. Because we are also learning what it is to be on the board, because as I heard from an unnamed great teacher from IMD, which is a school in Lausanne, statistically 90% of boards are in the executive's way. So we're thinking about how to be among the 10%. One criterion was Excel, because the board was forcing us to formalize the process, but besides that there was still the bauchgefühl that we were still trying to fine-tune the parameters according to.
What was the process like from the perspective of the new CEO?
Martin Hurych
What's it like to be told you have a chance to be a director?
Jaroslav Follprecht
It was the other way around, we said that anyone who potentially felt like being a director could apply, so it wasn't that we approached him, he nominated himself.
Pavel Bohac
I'd like to maybe correct that a little more. A lot of things have come up here, internal, external director from a company perspective, from a family perspective. I think the process started a few years back, some four years. There was really a lot of interference from the board, as Jaroslav said. I was one of the members of the management who said out loud that he wanted an external director from the perspective of both the family and the company.
A business that today we do, it's divided into 5 divisions, and the people who run those divisions are perfect and can push the business as best they can. So I was really one of the people who said would it be better to bring in an external director and I asked pointed questions in a lot of these meetings, so in the end Roman Žák nominated me. That got me into the nomination and somehow we continued.
Martin Hurych
Aren't the business owners in the way?
Pavel Bohac
I think I'm in the worst possible position now because, paradoxically, the fact that we're learning to do a board where the ownership structures that used to be in the executive are new makes it all the worse. On the other hand, that's the best starting position to set up the proper governance of that board so that the link between the executive to the board or to management works. Those are the kind of outside lines that can be there but must not interfere with business management. So, on the one hand, it's the worst possible situation, but on the other hand, it's an opportunity to really make it the way we want it for the next 20 years.
What is the new director's assignment?
Martin Hurych
When I observe this phase even in much smaller companies than you, because there are now 300 of you, it often gets quite sticky between the owner and the new external CEO. Because it's not clear what the CEO is actually supposed to do. What is your assignment?
Pavel Bohac
I have an assignment, we call it a founder's assignment, and it's a document that describes the long-term vision of the owners in terms of what the company should look like. That it does or doesn't squeak, I may put my own personal view into it here. I don't like it when one is in a stagnation phase, that one is not excited, but not outraged about what is happening either. I like it when people are either dissatisfied and want to change something, or they are happy and they are utilizing what they are doing today more and more because they want to multiply that happiness.
I think the fact that we're not at odds is because of one thing. I've been at AIMTEC for over 10 years now, it's essentially the second position I've been in, and that 10-year period has helped to align those expectations. I would say that the last 6 years, thanks to my position in management, I have aligned myself with both other people, but also with the founder, both Jaroslav and Roman, to go hand in hand. There are still conflicting opinions, I don't agree with everything that comes out of the founding structures, but we are in agreement on a lot of things, which is very important.
Martin Hurych
When you look at the owner's assignment, would you want it any differently if you were coming into the company from the outside?
Pavel Bohac
I think so, because one of the things that comes up both between the lines and specifically in that founding brief is a certain form of culture and setting of that company. We're not a company that has any external funding, we don't have any external influences that would influence us to grow fast, to stop growing, to make money and so on. We've had a really steady progression for the last 10 years and that's all reflected in that culture of that company. That asset in the people that we have today, the know-how and the setup, 300 people across the company, I think is the most valuable thing that can be there, but it's also the most fragile thing in that company. That's one of the biggest challenges of the assignment, to maintain that culture despite growing the company here in Europe, and now in the American subsidiary.
How will they know the CEO is on the right track?
Martin Hurych
At the same time, I would guess that it's one of the hardest things to measure. How do you know if you're failing or succeeding?
Pavel Bohac
Bauchgefühl, it's been said before. It's maybe that aspect, as you mentioned, of the external CEO, if he came in and what he would want otherwise. This is something that the external CEO unfortunately won't understand until he's spent 5 plus years in that company.
Martin Hurych
How do you know that the corporate culture that you and Roman have instilled in AIMTEC is changing to somewhere that is no longer acceptable to you? How do you have that set up between you, where are the brakes, if there are any, or are you really going bauchgefühl?
Jaroslav Follprecht
As you said yourself, that's hard to measure, so it's built on the ten commandments that we've grown up a certain way and we want to treat each other decently. We're struggling terribly with the word corporate right now, because when you say corporate, everybody gets pimples, but corporate is necessary if we're going to deliver to companies we supply, such as VW and Audi. We're the kind of company that's just on the edge between punk and organized.
As our customers say, with companies bigger than us, like the big five and so on, they wouldn't do the project because they're so ossified that it's impossible, but with us it's possible and there's still a degree of guarantee that it will be under control. So corporation in the sense of ossification is one thing, which is necessary, but the other thing is corporation in the sense of relationships between people, where people are climbing on each other's backs, they can't rely on each other, which we don't want either. So we know what we don't want, but it's hard to find that line between the two.
What has surprised them most since the handover?
Martin Hurych
I'm very supportive of this because I say that anyone who wants to go into business should go through the corporation because it teaches them how to run a business and I don't see that as a bad thing at all. We started it today by handing over the scepters, the nomination decrees, the keys on the 1st of July. What has surprised you since then that maybe goes a little differently than you had painted?
Pavel Bohac
It's the volume of the work. Jaroslav has been in the position of director for the whole time that AIMTEC has been writing history and he had exactly those several hats, the owner's hat, the director's hat, so the decision- making was in different spheres. It was simpler, it was more straightforward, which was certainly one of the things that changed because even in the decision making process today in management we're already looking at it from sort of two levels. We look at it from the perspective of the director level, the board level, and from the perspective of the founders, hence the ownership structures that are over AIMTEC today.
The second thing that surprised me is what I would call the lightness of being. If I've been doing something for 25 years, I don't understand that some things take up my time anymore, and I take them as a natural part of my daily rhythm, or my private life. When the operative is gradually handed over like that and appears in all its glory, it is no longer a complete ease of being. One begins to realize that even some things that used to take 10 minutes because they were feeling things, now if I want them analytically and structurally, they take 2 or 3 hours. Of course, it adds to the fund and also because I'm already partly involved a little bit in my original division that I had, so it's an incredible amount of work.
Martin Hurych
What surprised you?
Jaroslav Follprecht
I'm surprised it's working so far. I can see that the personal ties that are unproductive in many cases have broken down there, so that they come to the surface and things have to be dealt with that I would not have dealt with and that have to be dealt with. On the other hand, by changing those chemical bonds there, something has become more unstuck, so I'm surprised that it's working so far.
Do Jaroslav's fingers itch?
Martin Hurych
This phase for many people who have held the reins for decades is terribly difficult in that their fingers itch. How about you, it's easy to look at it from the outside, although of course you still have the ownership role there, but don't you have that day-to-day executive pressure on you, what's it like to take over after so many years?
Jaroslav Follprecht
I'm a naturally lazy person, so I've been trying to systematically transfer that responsibility to my colleagues all this time, and there was actually pressure on them to be active in it themselves. So I would say that the company is very self-driven, and paradoxically in many cases it's easier now because I'm still involved in a lot of things that I think help Pavel. For example, we do things around new contracts and things like that, so that's where I'm involved in terms of historical experience and it makes Paul's job easier.
Secondly, I'm still involved in things like foreign trade and building business in Germany, Europe and now America. But I don't have that responsibility there, so I can do more of what I enjoy and not have to do the kind of crap that the poor director is doing now.
Pavel Bohac
I have to put myself in that answer, because that is advice for others who will be passing on those companies in that way. I very much applaud Jard's attitude, even if he doesn't realize it and hides it behind his laziness, he certainly doesn't. We were at a summit of some companies in Frankfurt last week, IT companies all over Europe, and there the handover has often happened, however the original CEO's fingers are itching. He wants to interfere in that operation and he does and there are phases where it's been handed over for a year, two years, three years and it takes an awful long time to get out of it.
Then it's terribly difficult for the new director and often maybe the director gets replaced during that phase. I would applaud this on Jard's part, that this has been done and that really doesn't interfere with the ops. Let's take that as advice to others, because it's terribly important and one has to be aware of what to do and not to do.
How long does it take to hand over a company?
Martin Hurych
So going back to the beginning, the selection process was going on for a while, your training was definitely going on for a while. Can we give any indication of what the business owners who are following you with a delay of maybe a year, for example, should prepare for so that it goes as smoothly as it did for you?
Pavel Bohac
Now there are two perspectives, that of the original director and that of the current director. The way I look at it, it's set up from the structures. It has been said here that the company is self-driving and I strongly believe that because once the manager leaves for a while and everything works as it should and the manager doesn't have to worry about it, that is exactly what AIMTEC is.
Everybody is replaceable, even my position is replaceable, but the people who are now in the positions of divisional directors, as well as full back office management, sales and marketing, can function independently. Even if something happened to me, the company legally, legislatively can go on. So that ready-made structure is one thing. Then it's that chemistry between the lines, which we don't put into structure, or processes, or activities, but it's that attunement. We're talking about family businesses, not some corporation where it's about something else, where the long-term assignment is to go, what is the philosophy in 5, 10, 15 years, why are we here.
Martin Hurych
Since you were told you won the race to be the new boss, how long has it taken you to peek under the hood to get to know everything? Again, you've been there 10 years, logically you know a ton about the company, but you don't know everything. How long was the handover before you could actually say it was yours on July 1?
Pavel Bohac
I don't know if that can be generalized. If I put out a year here, there are definitely things that haven't been passed on in terms of something that's been forgotten and it comes up maybe once every six months. AIMTEC is decomposed into 5 divisions, which are not separate legal entities, but are in their
essentially an independently operating division. These have everything from expenses, allocated directs, sales, marketing, revenue to the bottom line, so they operate completely independently. So in terms of what I should see in terms of running a company, I've seen it for the last 7 years in terms of running a division. Then of course it went up that level to managing the company where there's another 40% of something that I had to hand over, but I would generalize it to a year.
Jaroslav Follprecht
I'd say six months. Handing over the company as a working machine was not a problem, Pavel knew that. The only difference is that he used to plan his division and now he plans the whole company, but in the final effect it is exactly the same. It's about having to perceive things from the back office. He knew the division stuff, he knew the business stuff, so the only thing he didn't know at all was the back office, so office management, HR and IT stuff. We have one entity that supports more hardware IT, the other one supports information systems and he used to deal with those as well. So the only thing he didn't understand in quotes was the back office in terms of office management and HR, those were probably the only things he didn't encounter.
I say six months because I'm not in agreement with my partner who says if you want to do something, you just say you're going to do it and the company starts doing it. My experience is that it never works that way, it has to be an internal, geopolitical setup, psychological and wanting. When I started pushing the idea that we were going to go to Germany, it basically seeped into the heads of all the important people in maybe 3 or 5 years. 3 or 5 years they thought it was pointless, that we were going to do the business differently anyway, so I don't think you can push it too hard.
So I think the most important thing was that Paul took the experience. I've got x areas that are run like that, there's no standard structures for it, it's not widely accepted across the business and it needs to be pushed all the time. So I handed him this list of these things that I'm thinking about, Paul sorted them out against what he thinks the priorities are, we crossed half of that off and the other half was what we're slowly pushing through the company.
What will be Pavel's legacy in the company?
Martin Hurych
One of the first questions was how Jaroslav and Roman imprinted themselves on the company when you founded it. You wouldn't be a man if you didn't want to imprint yourself on the company in some way. So where will your legacy be at AIMTEC in 10 years?
Pavel Bohac
IN THE US. I am not a person who wants all people to be happy and therefore we are all happy and that is the legacy. Some hard values, so that there's that achiever, in my brain.
is somewhere in the back, but it's not quite so drastic that I'm pushing it solely on KPIs. So my legacy is that it will at least work as well as it has worked so far, maybe a little better, I'd be happier. But one has to balance between what we have agreed that there are some founder values also in terms of financial metrics and in terms of growth of that company. Profit and growth, they go against each other, we have to agree on some kind of balance. I would like the company to grow, to be stable, to grow to such a level that we become an adequate player in terms of turnover for the biggest corporations.
Corporations over 100 billion are escaping us today and we are not an adequate player for them, we are risky. For corporations that have 20 offices, we are an adequate player and a strong IT company, even for the biggest ones we are doing today, but it would take more proof of that strength.
The second thing is the footprint in the US. Today our customers have headquarters both here in Europe, Luxembourg, Germany, but mostly secondary or primary in the US, especially in Michigan, in Detroit, where we have established an office. This is maybe a kind of reference to somehow shape and stabilize it there, because a company of our size should already be there so that it has that proof of evidence, hence a bigger footprint of projects. That's the legacy.
Martin Hurych
So in 2034 you will be doing the same turnaround in Europe and America?
Pavel Bohac
We can do bigger or smaller, but we will be a truly world-renowned brand, that when someone asks for a shop floor system through warehousing, production, logistics, we will be in the top 3, top 4 in that search. We will be a desired employer, employees will mainly in our West Bohemian region will also look for AIMTEC as a high-end profiled company in terms of technology, maybe even hardware technology. We will certainly have the ability to accept the challenges of still having freedom in what we do, but being able to afford bigger moves both in terms of America and investment. That includes investments in marketing, sales, but let's talk about investments to the east as well, but I'm already moving a lot ahead of that.
Martin Hurych
Do they agree? If he delivers the numbers, will you let him do whatever he wants?
Jaroslav Follprecht
They have to deliver that balance, deliver the numbers, the sustainability and the culture.
Key tips for a smooth handover and successful leadership
Martin Hurych
If we were to summarize your experience into a few pieces of advice, points, something like that for potential followers, how to pass the company on to someone else and not get in their way too much, what would it be? If there was only the last 2, 3 minutes of this podcast left, what would it be?
Pavel Bohac
For me, one of the main points that doesn't interfere with any KPIs, the segment where we do business, is attunement. I can be the greatest IT specialist or the greatest lay person, but if there is not a common attunement of the company, the owners and my personal values, it can't work. I love it when a person comes in for an interview or to AIMTEC and there's a spark, but if a person comes in with a rocket engineer on their resume and we want them for the position, I'm going to be looking over my shoulder.
Martin Hurych
Anything to add?
Jaroslav Follprecht
I think it's in the overall mood, it's in the fit between the personality and the company, and then basically anyone can do it. Then there has to be order in that company, but it's not a question of handing it over, it's a question of building it. That's usually where it falls down, which I see a lot in family businesses.The whole thing is built on the owner, who de facto has all the know-how in his head, there is no middle management apparatus built around him and now the children are coming in. Since there is nothing defined, they do it in a way, he doesn't like it, so he interferes and t h a t 's where I see a lot of conflict that there is in the handover especially in family businesses.
We were lucky, maybe it was because we went through that Deloitte, so we saw a big company and we wanted to build a company of that nature. So from the beginning we tried to bring order to the structure, to the management, to the organisation of the company and that is 80% of the success. Then it's about the attunement with each other, and probably mainly also about the set of moral values, because they are hard to define.
Martin Hurych
I hear a chemically and culturally related head perched on a professionally structured bedrock. Thank you so much for coming and sharing with me what was happening in your area and I wish you all the things you plan to do come true.
Jaroslav Follprecht
Thank you.
Pavel Bohac
Thank you.
Martin Hurych
That was another Ignition, today we discussed the burning area for many of you, how to pass on your business that you have polished for so many years to someone else. I hope we've done our job well and that you'll put a few points behind your ears or on a sticky note somewhere, on a monitor, and remember to execute them afterwards. If you like this episode or anything else I create for you, be sure to sign up for my newsletter, My Notebook. There are over 1,100 owners and CEOs of engineering, technology, and manufacturing companies on there right now. I have no choice at this point but to cross my fingers and wish you success, thanks.