It’s a worst-case scenario for a family business: the current leader refusing to step down. An impaired leader, especially one who believes the business’s success is owed to them alone, fights any succession plan. They refuse to acknowledge the opportunities they’ve missed or the poor decisions they’ve made. They may even take the fight to court, dismantling the trust among family members. There are strategies family businesses can employ when an impaired leader refuses to step down.
One tried-and-true strategy families often use is bringing in a trusted third party.
But if bringing in a trusted third party doesn’t work when a leader refuses to step down, what else can families do? Read about them in this article.
Read about what to do when an impaired leader refuses to step down here.
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