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IMD DISCOVERY EVENT

Family Business - Teamwork at the Top

  Family Business-Teamwork at the Top-February-1-2-2010
Topic Family Business
Date February 1-2 2010
Details

For any company, the selection of a new CEO is important. If the chosen CEO is from outside the company, the appointment takes on extra significance, as it usually means that change is needed and in the judgment of at least some on the board none of the inside candidates are likely to be able to do what is required. But of course the outsider, no matter how successful in a previous role elsewhere, represents risk, as well as opportunity. So appointing an outside CEO is a decision full of hope, often combined with some level of apprehension.

In a family firm, the stakes may be higher, for both the company and the non-family CEO. The new CEO has to make a success of running the business, and learn to interact productively with the family. Trust has to be built, on both sides. And of course for the family the questions are: can our new CEO run the business as successfully as we hope, and can he or she work with us in a way that we are comfortable with. The goal for both is a productive successful partnership, in which the business, the family and the CEO all prosper.

During this workshop we will discuss issues such as those shown below. Case studies will be used and key family and non-family executives featured in the cases will be present to add to the discussion:

• The hiring decision. When should a family firm consider appointing a non family member as CEO?
• If a family decides to hire a non-family CEO, what characteristics should they look for in such a person?
• Who should be involved in the selection process?
• How much freedom should the non-family CEO be given to manage the firm?
• What items should the family control most closely?
• From the perspective of the non family manager - how should you decide whether or not to accept an offer to run a family firm?
• What are the keys to success for a non-family CEO in a family company?

Who should attend: if you are involved in a family business as an owner, manager or non-family executive, this Discovery Event is for you.

IMD DISCOVERY EVENT
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Family Business on the Forefront of Global Change Lausanne, Switzerland, February, 17-18, 2011
 

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