The Family Business Legacy: A Test of Willpower, Not Talent Family owned businesses are unique in that personal and professional lives become intertwined.
When a CEO decides to pass the reins, it's not just about finding a worthy successor; it's also about navigating complex relationships, loyalties, and power dynamics built over years.
A recent study by McKinsey sheds light on this process, revealing that it's not the heir but rather the outgoing CEO who often causes problems.