Reluctance to deal with succession is not limited to the founder and his or her family. Managers, owners and outside stakeholders may be equally hesitant to grasp the nettle. This article looks at each of these groups to explain why.
MANAGERS
I am referring here to the non-family cadre of managers who constitute the upper echelons of the business. These are often people who have worked with the founder from the start of the business.
Many senior managers are reluctant to shift from a personal relationship with the founder to a more formal relationship with his or her successor. In most cases, these managers have developed unique ties