Examining mortality and leadership succession in family business
Published Date: 4/21/2023
Source: phys.org
By 2030, more than 30% of family businesses in the U.S. will lose their aging leaders to retirement, or death. Many of those leaders don't have a strategy for letting go of their business, turning it over to a successor, or selling it. While it is rare for an incumbent leader to die while in office, it is difficult for them to face their mortality. Yet letting go and the outsized effect of facing one's mortality have not been examined closely since early writings in family business.