The Marxist prediction that capitalist bureaucracy must inevitably neutralize individualistic leadership in industry, has been disproved over and over by the careers of industrial “superstars” from Andrew Carnegie to Henry Ford, Lee Iacocca, Estee Lauder, and David Rockefeller–all of whom could be described as having made their own personal stamp on their respective businesses. How a business replaces its chief executive often determines that firm's future. If a business does not effectively manage the transfer of power, utter turmoil can result, with profound implications not only for the CEO ... More

The Marxist prediction that capitalist bureaucracy must inevitably neutralize individualistic leadership in industry, has been disproved over and over by the careers of industrial “superstars” from Andrew Carnegie to Henry Ford, Lee Iacocca, Estee Lauder, and David Rockefeller–all of whom could be described as having made their own personal stamp on their respective businesses. How a business replaces its chief executive often determines that firm's future. If a business does not effectively manage the transfer of power, utter turmoil can result, with profound implications not only for the CEO, but also for the other employees, the shareholders, and the community at large. Filled with inside stories from corporate boardrooms and fresh conceptual perspectives, this book describes the factors that affect executive succession. It examines how the management succession process involving chief executive officers of major corporations is affected by the heroic view that CEOs have of themselves. Arguing that personality can also affect the departure styles of retiring CEOs, the book defines four principle types: Monarchs, Generals, Ambassadors, and Governors. The personality of each type is outlined in interviews with real-life business leaders and illustrated with numerous pithy anecdotes.