India, Sept. 22 -- The next-generation leaders of family-run enterprises on Monday stressed preserving their core values while embracing agility, diversity, innovation and technology as they navigate leadership transitions in their legacy businesses.

Participating in a panel discussion, Lakshmi Venu, Vice Chairman of Tractors and Farm Equipment Ltd (TAFE), Rama Kirloskar, Joint Managing Director of Kirloskar Brothers Ltd (KBL), and Laxit Awla, Executive Director and CEO of SAEL Industries Ltd, shared their perspectives on leadership, succession, workforce diversity and the evolving business landscape.

Venu, who took over as Vice Chairman after working alongside her mother Mallika Srinivasan for nearly two decades, said credibility at TA...