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The Hero’s FarewellWhat Happens When CEOs Retire$
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Jeffrey Sonnenfeld

Print publication date: 1991

Print ISBN-13: 9780195065831

Published to Oxford Scholarship Online: October 2011

DOI: 10.1093/acprof:oso/9780195065831.001.0001

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The Small Business Leader Faces Departure

The Small Business Leader Faces Departure

Chapter:
(p.217) 10 The Small Business Leader Faces Departure
Source:
The Hero’s Farewell
Author(s):

Jeffrey Sonnenfeld

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780195065831.003.0010

This chapter argues that the family business presents special challenges that further complicate the considerations of retiring leaders. The detailed case history the chapter illustrates here aims to provide the reader with more insight into the drama and the complexity of roles involved in family business leadership succession. The case concerns a metal-parts manufacturer whose founder was struggling to make a new retirement plan following the untimely death of his eldest son. A fictional name of the firm and people involved are utilized by the chapter but the basic facts on the struggle on transition of succession are factual.

Keywords:   family business, retiring leaders, leadership succession, metal-parts manufacturer, retirement plan

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