Succession Season 4 Ending Explained: Who Is Waystar’s New CEO? Why Shiv Votes for The Deal?

Finally, Succession Season 4 ended and so many questions were left behind it. Since its premiere in 2018, Jesse Armstrong’s play has revolved around only one thing: finding Logan Roy‘s (Brian Cox) successor. It seems more than obvious that a series titled Succession would focus on it, and after four seasons aired, the person who will be the new CEO of Waystar Royco was finally appointed. After the death of the family patriarch in episode three, titled “Connor’s Wedding”, the waters stirred between the brothers and, after 39 chapters, someone occupied the coveted position. Season 4 was extremely intense and eventful, spanning the unexpected loss of Logan, the presidential election, and the sale of the company to GoJo and Lukas Matsson (Alexander Skarsgard), so it’s safe to say the final episode was no exception. Over the past 10 installments, we’ve seen The Roys join forces, split up into two camps, and fight each other, and while sibling love surfaced from time to time, betrayal never left the screen. Before we go any further, if you haven’t seen the series finale yet, this is a SPOILER ALERT! So come back once you’ve finished the episode.

It has no less than 13 Emmys and those that remain because we are sure that this wonderful season 4 is going to win many awards. The end of Succession Season 4 has been the subject of much debate; with fans debating Waystar Royco‘s organizational chart, as well as which brother Roy would end up succeeding Logan as CEO of the company. All these questions and many more have been answered with the tenth episode of the series, 1 hour and 24 minutes long, entitled ‘With open eyes’. The fourth season has been the ‘craziest’ of the series, with several narrative lines developed at the same time. The main one dealt with GoJo CEO Lukas Matsson‘s attempts to buy Waystar Royco and how the Roy brothers wanted to stop him. Succession Season 4 has exploited other themes, such as the consequences of the relationship between Shiv and Tom, the tense presidential elections, and even the death of Logan Roy. Heading into the Season 4 finale of Succession, anything could have happened, and the series found a way to tie all the possibilities together seamlessly. So, here is the Succession Season 4 finale explained.

Succession Season 4 Ending Explained: Summary Recap

As we see in the opening sequence of the finale, Kendall is trying to get enough votes from the Board of Directors to derail the planned merger with GoJo, and tensions are high. Meanwhile, Shiv is fully on board with the GoJo team, having received a promise to take over as CEO, so he is also trying to get the necessary votes to go through with the deal as planned. Roman rushed home to his mother Caroline (Harriet Walter) after collapsing from the stress. Kendall, Shiv, and Roman have a summit in the form of sunset cocktails on the patio and a family dinner at home, and each brother presents their case for Roman‘s crucial vote. The highlight of the finale is seeing the Roy boys finally seem to drop all pretense and enjoy each other’s company.

Shiv and Tom’s relationship has been very strained for most of Succession‘s four seasons. In the finale, she was never so cold, as the two proved to be too toxic for each other. Sadly, the relationship is crumbling just as Shiv got pregnant which added a whole new dimension to the discord. The two begin the ending with Shiv handing an olive branch to Tom and proposing that they get back together, but he doesn’t trust Shiv. Furthermore, Lukas Matsson offered him the role of managing director in Shiv’s place. Once it is clear that The Roys must unite and propose a single candidate as the successor to the Waystar crown, that’s it. Kendall stands up for himself and becomes the chosen one to represent Team Roy. The highlight of the finale is seeing the Roy boys finally seem to drop all pretense and go back to being a family; they hole up in Logan‘s attic to strategize and watch some old funny videos of their father. While watching the videos, the boys share an emotional moment watching Logan sing a tune – until Tom shows up and reveals to Shiv that Matsson has chosen him as CEO, and then all hell breaks loose.

The Roys meet around a table with the Board of Directors and explain their reasons for rejecting the deal. Frank requests that the board go directly to a vote. When all the votes go as planned, it comes to Shiv the casting vote, and she panics and walks out of the conference room. Kendall and Roman talk to Shiv, who reveals that she is undecided about her vote for Matsson. Shiv doesn’t think Kendall is right. She brings up that Kendall is a murderer, referencing the season 3 finale where she confessed to killing someone, so she may not be “the right man” for the leadership role. Kendall loses her mind, yelling at Shiv and physically assaulting Roman.

When Frank confirms that the deal with GoJo is done thanks to Shiv’s vote, Kendall is incredulous. After the vote, Tom enters and begins making decisions about whom he intends to keep as the new CEO of Waystar, even making amends with Greg. Tom, Karl, and Frank pose for photos alongside Matsson as GoJo‘s new leadership and applause erupts. Roman quickly signs the deal with Matsson; Tom and Shiv reunite in the back of a black SUV and shake hands without even looking at each other – and finally, Kendall walks off to the ocean shore with her father’s former bodyguard, Colin (Scott Nicholson), following behind. He sits on a nearby bench and looks despondent, staring out at the water as the camera cuts to a final profile shot. What resonates most is how everything in Kendall‘s life up until this final moment has meant nothing. He has lost his wife, his children, his self-confidence, and now his father’s company credits.

Succession Season 4 Ending Explained: Lukas Chose Tom as Waystar‘s New CEO?

Surprise! In the end, Lukas Mattson chooses Tom as the new CEO of Waystar Royco‘s American division instead of Shiv, whom he decided to discard after Mattson’s new political connections. But, above all, he did it after seeing a cartoon in which Shiv appeared controlling Matsson with marionette strings. Because of that, Mattson realizes that he prefers someone malleable like Tom Wambsgans. When he tells him that he wants to sleep with his wife and Tom is fine with it, Mattson realizes that he will make the ideal underling.

Why Shiv Votes for The Deal (And Against Kendall)

When Shiv finds out she’s going to be replaced, she’s about to turn on Mattson and vote against the deal, but eventually votes for it, meaning she doesn’t want Kendall to control the company. Shiv knows that this one is incapable of running Waystar Royco and, besides, Kendall would have thrown him out of the company at the first chance. Also, she selfishly moves knowing that if Tom is ultimately the CEO, she would still be influential at Waystar Royco, so she votes for her.

Why Does Roman Give Up on Kendall and Waystar?

From the beginning, Roman did not trust Kendall‘s leadership at Waystar Royco and was hesitant to vote against the deal, just to remove his support for Kendall after Shiv made his case against his older brother. But Roman understands that his plan is a lost cause and teams up with Shiv to prevent further pain in Kendall‘s life. It’s only natural that we’d see Roman upset by the result of the vote, as it ruins his position at Waystar Royco.

Who Stays at Waystar Royco After the End of the Series?

Tom and Lukas Matsson stay at the helm of the company, and we see Tom tell Greg that Frank and Karl are away, which means they don’t have much time left there. Tom is also very dismissive of Hugo, almost firing him for agreeing with Kendall. However, Greg and Shov Roy will stay with the company and Tom says that he wants to talk to Gerri and Karolina, which means they might stay. Kendall and Roman will also do it but with less important positions. In summary, the younger staff stays.

A Metaphor? Kendall‘s Walk to the River?

When he loses company, Kendall goes for a walk towards the river, but this does not mean that he dies, but that it is a decisive moment in his life. Plus, Kendall is followed by Colin Stiles, which means he still has support if he needs it. Kendall is likely to go into a tailspin again after the end of ‘Succession,’ and the river scene shows just how distant and lost he will be without his job at the company.

What About Shiv and Tom’s Marriage?

Throughout the fourth season of ‘Succession‘, the relationship between Shiv and Tom has been key and it seemed that everything was over between them. But after watching the last episode, it seems that they won’t get divorced, but they won’t have a happy marriage either. Shiv’s decision to stay with Tom seems more like a business deal, and she’s only doing it to secure a position at Waystar Royco. They both held hands as they drove away, but very coldly.

Is Shiv the Real Winner of the Series?

Well, as Tom’s wife, Shiv is going to play a key role in the future of Waystar Royco. She is very manipulative, her husband is quite weak, and she is also pregnant by Tom, so the CEO position at Waystar will still have the Roy bloodline in it, fulfilling Logan‘s wishes. And on the other hand, if Tom is the CEO, he fulfills the wishes of Lukas and Chairman Mencken to have a male CEO, even if Shiv is running things. A win-win.

Power, greed, pride, ambition, generational trauma… The Roy family is torn apart by the management of Waystar Royco, with the three Roy brothers always turning against each other. At the end of Succession Season 4, Roman is weak and broken, Shiv is in an unhappy relationship, Kendall has lost everything, and everyone has become Logan Roy in his quest for power.