Title

Creating an Environment for Successful Nonfamily CEOs: An Exploratory Study of Good Principals

Department

Management & Entrepreneurship

Document Type

Article

Publication Date

12-2007

Abstract

Nonfamily CEOs are an important part of the managerial efforts of many family businesses. However, little academic work has focused on these managers, who reside in the dual worlds of business and family. This article presents a study based on interviews with 27 family members and nonfamily CEOs (NFCs) with the objective of exploring what makes for successful NFCs. We find that successful nonfamily CEO engagements are characterized by the selection of an individual with both business and interpersonal competencies, and the support of both family business boards and councils.

Journal

Family Business Review

Journal ISSN

0894-4865

Volume

20

Issue

4

First Page

321

Last Page

335

Digital Object Identifier (DOI)

10.1111/j.1741-6248.2007.00102.x