If the CEO of a small business dies, what helps keep the business afloat?
Small and family-run businesses tend to be founded and led by hands-on CEOs. So if that CEO dies suddenly, there’s often a huge impact on the business, its employees and customers – practical as well as personal.
Professor Francesco Chirico from Macquarie University joined Cameron Furlong this morning on the Thursday Daily. He shared some recent findings about how a business can best be ready to handle the possible death of their leader.
He’s Professor of Strategy and Family Business, in the Department of Management, Macquarie Business School, and Co-Director of the Macquarie University Innovation, Strategy and Entrepreneurship Research Centre.
Like to read more?
Article in The Lighthouse: Australian businesses could learn about succession plans from a TV drama
Research paper in the Journal of Management Studies: The king is dead – long live who? A family and firm embeddedness perspective on succession after the CEO-owner’s sudden death
