About the family firm

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Reference no: EM133278161

Breifly explain the 3 conditions under which it may be OK to fire a CEO of a family firm?

The case talks about an example of a company where the Chairman appointed his son as the new CEO. What problem arose due to the son? How did the father resolve the matter? Do you think the father took the right decision at the end? (justify your answer).

The case mentions that one of the conditions is that you should have options to fill the gap, once the present CEO is removed. What if there are no ready options, and yet the existing CEO is not respecting the values of the company? Should you just ignore the problem, or take action? What action can be taken?

At the end of the case, it says that firing the CEO is a tough decision, and not to be taken lightly. In family firms, if the CEO is a member of the family and does not seem to have the right fit for the job, how can you remove him from his position? How will you approach the matter if you are also a family member and Chairman of the company.

Reference no: EM133278161

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