CEO letter
Dear Mr. Smith,
After reviewing your company’s current situation and deriving on my own experience with family owned firms and their succession process, I came up with recommendations and information that might be useful for you in the successor choosing process.
The successful integration of children into a management position in the family business is extremely important for the continuity of the business and is a complicated process that has the potential of challenging existing family dynamics and relationships. In helping you making the right choice, I would like to recommend two readings, which present different aspects of integration. But before I will go into details about the articles, I would like to remind you some of the things we have discussed in our initial meeting: The succession process is a long journey that should include challenging assignments, where the future candidates’ performance can be measured and evaluated. In addition, you must consider things like their skills and whether they are willing to work hard for the business’ success. Before finalizing your decision, you might want to consider allowing the board of directors to perform a final review of the successor and determine his/her fit for the role of CEO and the company’s strategy. That way you will receive a more objective analysis that would either support your decision or recommend an alternative.
I would like those guidelines to serve as the general rule, and suggest the following two articles that would stress key issues that are relevant to your unique situation of choosing between two siblings:
1) The first article is called “integrating the daughter into family business management”, by Colette Domas. This article provides some key information and guidelines about the integration of daughters into family businesses, as well as some insight into the differences between the daughter integration vs. the son.
It talks about the fact that the majority of the differences
After reviewing your company’s current situation and deriving on my own experience with family owned firms and their succession process, I came up with recommendations and information that might be useful for you in the successor choosing process.
The successful integration of children into a management position in the family business is extremely important for the continuity of the business and is a complicated process that has the potential of challenging existing family dynamics and relationships. In helping you making the right choice, I would like to recommend two readings, which present different aspects of integration. But before I will go into details about the articles, I would like to remind you some of the things we have discussed in our initial meeting: The succession process is a long journey that should include challenging assignments, where the future candidates’ performance can be measured and evaluated. In addition, you must consider things like their skills and whether they are willing to work hard for the business’ success. Before finalizing your decision, you might want to consider allowing the board of directors to perform a final review of the successor and determine his/her fit for the role of CEO and the company’s strategy. That way you will receive a more objective analysis that would either support your decision or recommend an alternative.
I would like those guidelines to serve as the general rule, and suggest the following two articles that would stress key issues that are relevant to your unique situation of choosing between two siblings:
1) The first article is called “integrating the daughter into family business management”, by Colette Domas. This article provides some key information and guidelines about the integration of daughters into family businesses, as well as some insight into the differences between the daughter integration vs. the son.
It talks about the fact that the majority of the differences