An exploration of the relationships between successful non-family CEOs of successful family businesses and the family owners.

摘要

Purpose. Family businesses are essential to the world economy, constituting 80% to 98% of all businesses. When family members choose not to lead, it is vital that a non-family CEO who can establish and maintain good relationships with family owners be found. The purpose of this research was to explore the relationships between successful non-family CEOs of successful family businesses and family owners to identify what strategies work best.; Twelve successful non-family CEOs in Southern California were identified, and face-to-face, in-depth interviews were held. This research was designed to be exploratory, qualitative, and descriptive.; Findings. This study concludes that successful non-family CEOs are clearly aligned with the family owners regarding the company's vision, with the CEO accepting input from the family owners, and clearly communicating the vision to the family owners, the top management team and the employees. The CEOs empathize with family owners singly, as individuals, and collectively, as owners, of a family business, and they demonstrate empathy towards family and non-family employees. Also, they empathize with family owners enough to have the flexibility to take on a number of roles with the family, depending on the situation.; The successful non-family CEOs have an advocate or champion---a family owner, or a professional who understands the family owners---who acts as a liaison between the family owners and the non-family CEO. The CEOs are able to take unpopular stands with the owners, and they demonstrate clear business competence. They are validated by their own sense of accomplishment, and they are optimistic as well as having positive regard for the future of the family business. Successful non-family CEOs clearly understand that a family business is different from a public company and what shareholder value means in their situation. They have an early experience of bonding and connection with the family owners, and they are validated by family owners with tangible and intangible rewards.; Summary. The compelling stories of these twelve non-family CEOs confirm that there are strategies that can be employed to improve the probability of success in establishing and maintaining relationships between non-family CEOs and family owners.