Siblings and Succession in the Family Business

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Management article

Reference no. 98108Z

Authors: Warren D. Miller (Harvard Business School); Joseph A Wolking (Harvard Business School); Kent Noble (Harvard Business School); Kelin Gersick (Harvard Business School); Victor Ney (Harvard Business School)

Published by: Harvard Business Publishing

Originally published in: "Harvard Business Review", 1997

Revision date: 30-Jan-2013

Length: 12 pages

Topics: Brief case; Chief executive officer (CEO); Families and family life; HBR Case Discussions; Leadership; Succession planning

Share a link: https://casecent.re/p/65752

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Abstract

How do family businesses handle succession? What happens when siblings compete for the position of chief executive officer (CEO)? Can nonfamily board members navigate successfully through conflicts among family members? Should they even try? This fictitious case study examines a host of issues with which family businesses regularly grapple. It describes the situation that faces the board of directors of Benson Electric, a rapidly growing family enterprise, upon the unexpected death of CEO and patriarch Buck Benson. Benson, the son of the company''s founder, left no succession plan. Caught in the middle of an emotionally torn and feuding family, the directors must determine how to proceed. How can they manage the succession process without alienating family members and worrying employees and customers? May be used with: (98108X) Siblings and Succession in the Family Business (HBR Case Study).