Do I Really Have to Take Over This Business?
Should the heir apparent to a family business, who really doesn’t want to have to work with a difficult cousin, feel obligated to stick to the succession plan.
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FAMILY BUSINESS
Do I really have to take over this business? “I joined my family’s company, and it has been messy. The main shareholders are my mother and her two sisters. From my generation, there’s a cousin who also works here. He’s complicated, with a history of anger issues and past verbal aggression toward employees and family. He no longer raises his voice, but the negativity remains. When he’s upset, everyone can feel it through his behavior, which includes slamming doors or withdrawing completely. After more than two years of working with him, I’ve realized I don’t want to have him as a business partner.”
“Right now, disagreements end with my mother, the chief executive, making the final decision. What worries me is what will happen once she steps down. My mother has said that she sees me as the person best suited to lead the company, and she’s convinced that my cousin should not. She also reminds me that she has invested a great deal of time, money and effort in preparing me for this role.”
“The work is challenging and fulfilling. But I can’t picture spending the rest of my career working with my cousin. I’m also concerned about what might happen — both to the company’s future and to my mother’s legacy — if I decide to step away after the succession. I have the skills to succeed elsewhere, and I’m not afraid of doing so. But leaving would delay my mother’s plans to retire, which adds more pressure. What are my obligations in this situation?” READ MORE
