Summary

• In the Succession series finale, the battle for control of Waystar Royco comes to a head. Kendall, Roman, and Shiv all vie for the CEO position, but in the end, it is Tom Wambsgans who is chosen by Lukas Matsson.
• Shiv initially plans to vote against the deal, but ultimately decides to vote in favor of it. She realizes that Kendall would not be suited for the job and would likely push her out of the company.
• Roman also hesitates before voting against Kendall, but ultimately agrees with Shiv. He knows that Kendall is dead in the water and that giving up is better than attempting to save the company in vain.

Warning: Contains SPOILERS for the Succession series finale!

Succession officially concluded on May 28, 2023, finally determining the fate of the Roy siblings, and there is a lot to unpack in the Succession ending. The series finale had been the subject of much speculation, with fans arguing over the power rankings at Waystar Royco as well as which Roy sibling would end up succeeding Logan Roy as the CEO of the company. Luckily, all of these questions and more were answered, with a stellar ending that fully embraced the themes of the show.

Succession season 4, episode 10 closed out the series' rollercoaster of a run, with the final episode being the wildest ride yet. Succession season 4's main storyline centered around GoJo CEO Lukas Matsson's push to buy out Waystar Royco and the subsequent attempts by the Roy siblings to stop him. However, Succession season 4 also explored the fallout of Shiv and Tom's relationship, the tense presidential election, and even the death of Logan Roy. Heading into the Succession ending, anything could have happened, and the show found a way to pay off every possibility in the perfect way.

Why Lukas Chose Tom As Waystar's New CEO

Tom Is Easier To Control Than Shiv

In a surprise twist, Tom ended up being chosen by Lukas Matsson to be the new CEO of Waystar Royco's American division. Matsson was originally set to pick Shiv, but he changed his mind after her usefulness ran out due to Matsson's newfound political connections.

Matsson's biggest motivator, however, was a political cartoon he saw that portrayed Shiv controlling Matsson on puppet strings. This made the GoJo CEO realize he wanted someone meek and malleable: Tom Wambsgans. Matsson's final test for Tom was saying to Tom's face that he wanted to have sex with his wife. When Tom acted fine with it, Matsson knew that he was the perfect underling.

Why Shiv Really Voted For The Deal (& Against Kendall)

Tom As CEO Actually Gives Shiv More Control

After finding out that she was being replaced, Shiv almost turned on Matsson and voted against the deal. However, she voted in favor of it in the end, meaning that she also voted against Kendall controlling the company. Shiv knew that Kendall couldn't handle Waystar Royco, with him clearly not being suited for the job.

Shiv also knew that, due to their past conflicts, Kendall probably would have pushed her out of the company at their first ime. Selfishly, since Tom was set to be the CEO, Shiv would still have a major hand in Waystar Royco if the deal went through, leading to her vote.

Roman Agrees With Shiv: Why He Gives Up On Kendall & Waystar

He Knows Kendall Is Dead In The Water

Roman has always been easily pushed around, but from the beginning, it was clear that he wasn't confident in Kendall's leadership of Waystar Royco. The middle Roy sibling hesitated before voting against the deal, only for him to rescind his of Kendall after Shiv stated her case against their older brother.

Roman is the first one to accept that their plan is a lost cause, with him only agreeing with Shiv to prevent future pain in Kendall's life. Roman is clearly upset by the outcome of the vote, as it seemingly ruins his standing at Waystar Royco. However, he knows that giving up is better than attempting to save it in vain.

Who Is Still With Waystar Royco After Succession's Ending

The Old Guard's Days Are Numbered

With Tom and Lukas Matsson in control of Waystar Royco, some serious shakeups are expected after Succession's ending. Of the Succession season 4 characters, Tom tells Greg that Frank and Karl are out, meaning that their time at Waystar Royco is short. Tom is also incredibly dismissive of Hugo, potentially firing him due to his collusion with Kendall.

Tom clearly states that Greg is safe at the company, as well as Shiv Roy. On top of that, Tom says that he wants to talk with Gerri and Karolina, meaning that they have a good chance of sticking around. Kendall and Roman will probably have the chance to stay at Waystar in smaller roles, but it isn't known if they will accept. Much like Lukas Matsson planned at the beginning of Succession season 4, it seems that most of Waystar's old guard is out while the younger staff will remain in.

What Kendall's Walk To The River Really Means

The "Eldest Boy" Lost His Life's Purpose

After losing the company, Kendall quietly walks to a river, and this subtle moment says a lot about the character. Firstly, Kendall Roy doesn't die, as was highly speculated in the lead-up to Succession's ending. However, Kendall's loss of the company is clearly the defining moment — and tragedy — of his life. Kendall is also being followed by Colin Stiles, meaning that he still has if he needs it. The "eldest boy" is probably going to spiral once again after the Succession series finale, and the river scene shows just how distant and lost he will be without Waystar Royco.

According to Succession creator Jesse Armstrong, Kendall actor Jeremy Strong actually tried to jump in the river while filming (via NBC News).

Shiv & Tom's Marriage Explained: Are They Still Getting Divorced?

They'll Stay Married, But Their Sad Hand-Holding Shows They Won't Be Happy

Shiv and Tom's marriage has been a focal point of Succession season 4, with it seeming as if everything was over leading up to the series finale. Succession season 4, episode 10 points to Shiv and Tom not getting divorced — but they won't have a happy marriage either. Shiv's decision to stay with Tom seems more like a business arrangement, with her only doing it to secure her place at Waystar Royco. Although Shiv and Tom hold hands as they're driving away, there is clearly no happiness in their eyes.

Shiv Still Won Succession (Despite Not Being CEO)

With Shiv Being Pregnant, Waystar Royco Remain In The Family

Even though Shiv isn't the CEO, she still won Succession. As Tom's wife, Shiv will still be a huge player in Waystar Royco's future. Considering how manipulative Shiv is and how much of a pushover Tom is, Shiv could end up having even more influence than her husband. On top of that, Shiv is pregnant with Tom's child.

This means that the CEO position at Waystar will still have the Roy bloodline in it, fulfilling Logan's wishes. On top of that, Tom being CEO fulfills Lukas and President Mencken's wishes of having a man in charge, even if Shiv is truly running things.

The Real Meaning Of Succession's Ending

The Roy Siblings All Become More Like Logan

Succession is a truly tragic show, with it exploring themes of greed, pride, and generational trauma. The Roy family is constantly ripped apart by their various interests at Waystar Royco, with the three Roy siblings always turning on each other at the drop of a hat. This is something that Connor Roy and Uncle Ewan point out constantly throughout the show.

However, they are unable to save the Roy siblings. By the end of Succession season 4, Roman is weak and broken, Shiv is in an unhappy relationship, and Kendall has lost everything, with them all becoming like Logan Roy in their pursuit of power.

Why The Succession Ending Was Perfect

The Roy Children Being Shut Out Of The CEO Position Was Inevitable

Given how acclaimed and successful Succession was, and the shock of no Succession season 5, there was a lot of pressure to pull off a great ending. However, the common consensus among fans and critics was that Succession’s finale was the ideal conclusion for this story. While there were some big surprises and unexpected moments that added to the thrill of the final season, where things finally came to an end seemed rather inevitable. This is especially true of the ending for the three main Roy children.

The more they struggled for control, the more Kendall, Roman, and Shiv began to resemble their father.

In the aftermath of Logan Roy’s death, the question quickly became which of his children would take over the company in his place. Season 3 of the series ended with the siblings united against their father, but it was clear that would only last until they realized that only one of them would be able to be CEO when it was all over. The more they struggled for control, the more Kendall, Roman, and Shiv began to resemble their father. They were willing to break promises, abandon political beliefs, abuse each other, and generally become all-consumed by the desire to hold onto power.

When Succession comes to an end, none of the Roy siblings got what they were after and they proved they were unworthy of the position by failing to step out of the shadow of their father. From beyond the grave, Logan Roy still controlled and influenced his children. This is especially seen with Kendall, who spent so much of the series trying to prove himself different from Logan. However, when the CEO position was about to be taken from him, his final desperate grasp at it was to (falsely) exclaim “I am the eldest boy!”

At the end of Succession, Kendall confirmed what everybody already knew: the bid to become Waystar CEO was all just about proving something to his father. After a lifetime of Logan withholding love or acceptance from his children, it is fitting that none of them get to take up his position and are left with the same feeling of longing they had when he was alive.