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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 Hero's Reluctant Farewell

The Hero's Reluctant Farewell

Chapter:
(p.58) 5 The Hero's Reluctant Farewell
Source:
The Hero’s Farewell
Author(s):

Jeffrey Sonnenfeld

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780195065831.003.0005

Special psychological barriers to career exit that business heroes face are suggested in this chapter. These include the feared loss of heroic stature and loss of the sense of heroic mission. This chapter also presents how these barriers can be lessened or heightened depending on the environment of the heroes' firms. The chapter also introduces four types of departure styles of retiring business leaders, namely: monarchs, generals, ambassadors, and governors, as well as a variety of methods used to overcome the barriers to retirement. Also included in this chapter are key findings from a chief executive survey and an analysis of compustat data.

Keywords:   psychological barriers, business heroes, heroic stature, heroic mission, retirement, compustat data, heroes' firms, departure styles

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