Video: The Stranberg Story | Family Business & CEO Succession

One of the most challenging aspects of leading a family-owned or founder-led organization is knowing when to pass the torch – and who to give it to. For many, the process of selecting a successor – and the fear of getting it wrong – leads to sleepless nights.

Those anxieties aren’t unfounded. What’s best for a business often stands at odds with dynamics that are unique to family businesses, where questions of legacy and loyalty weigh heavy. A mother may desire to transfer leadership to her underqualified son. A sibling who lacks the temperament to lead may vocally aspire to take the helm. An inexperienced in-law may quietly covet the crown.

Quandaries such as these put leaders in a challenging position – and force them to make difficult decisions that could upend familial bonds or sow instability within their business. And, while inherent tensions will never be eliminated, they can be significantly curbed with strategic CEO succession planning facilitated by a neutral third party.

Stranberg helps family businesses place right-fit executives with strategic CEO succession planning and executive search services. To learn how we do it, watch our latest video: The Stranberg Story | Family Business & CEO Succession.

The Importance of Placing the Right Executive

Leadership transitions are rare for family companies. When they do occur, the potential for major disruption is high. The wrong leader can cause financial and reputational damage to the family and business – which can ripple out and harm employees, shareholders, clients or customers, and the wider community.

In short, a leader who doesn’t align with a family’s culture, values and vision can set their business back for years – which is why it’s critically important to appoint the right successor the first time.

For more information, watch the video.

How Stranberg Finds Family Businesses Leaders Who Last

Understanding what makes a business – and family – tick is a prerequisite to placing an executive that lasts.  

The majority of traditional recruiters simply aren’t up to the task. While they may have expertise in a specific region or industry, they often fail to look beyond candidates’ on-paper qualifications. And for family businesses, those more personal attributes can spell the difference between a leader who merely puts in the hours and one who empowers the business to soar.   

Stranberg understands this, which is why our team works with family businesses to understand what they need from their executive teams before considering any candidate. Only once goals and expectations are clearly defined do we begin to search for who will lead the business – regardless of whether that individual comes from within the family or outside of it.

By approaching CEO succession planning, search and selection strategically and with an emphasis on the unique needs of the businesses we serve, Stranberg consistently helps families find successors who share their values and help them achieve their goals.  

To get started, or learn more about how Stranberg works, contact us or schedule a free consultation.

Watch the video