Creating an Environment for Successful Nonfamily CEOs: An Exploratory Study of Good Principals
Department
Management and 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 Title
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
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