When a Family Business Should Look for an Unrelated CEO

Family businesses that operate in an industry that values cutting-edge innovation would best be served by looking outside the family for company leaders, according to research from Concordia University's John Molson School of Business.

While family members make good CEOs of family businesses that are part of a traditional industry built on quality and reputation, such as food producers, service providers or wine makers, the study found that in industries that prioritize pushing boundaries over preserving tradition, like the information technology sector, cellular communications or pharmaceuticals, an aggressive attitude in the marketplace is necessary to lead. Read more...