DairyNZ funded a two-year study on dairy farm ownership and management structures (June 2005 to May 2007), followed by a study on dairy farm succession in 2007/08. Farm business structures affect wealth creation and distribution, and determine who the dairy industry participants are and will be, and the roles they will have. Succession determines the next generation of farm owners. The research included literature reviews, farmer focus groups, a survey, case studies and industry interviews. This paper will present an overview of the key issues identified and discuss what these might mean for the future.