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The Boss who walked away

Author: Carlock, Randel S. INSEAD Area: Entrepreneurship and Family EnterprisePublisher: Fontainebleau : INSEAD, 2009.Language: EnglishDescription: 2 p.Type of document: INSEAD CaseNote: Latest version available via https://publishing.insead.eduAbstract: An interview with a 49-year-old man who abruptly sold the family business without warning to his employees or family. He told his wife what he'd done and put his mother in a retirement home. He informed his two children and nephew, who worked in the business, that they could stay with the new owners but would have to make it on their own. This interview was completed shortly after Steve closed on the sale but before the long-term consequences of his actions are fully known.Pedagogical Objectives: This case allows us to understand the purpose of communication in a family business, and the need to establish a structure that encourages family participation in planning, problem-solving, decision-making. It also deals with next generation problems and recognition.
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Latest version available via <a href=https://publishing.insead.edu>https://publishing.insead.edu</a>

This case allows us to understand the purpose of communication in a family business, and the need to establish a structure that encourages family participation in planning, problem-solving, decision-making. It also deals with next generation problems and recognition.

An interview with a 49-year-old man who abruptly sold the family business without warning to his employees or family. He told his wife what he'd done and put his mother in a retirement home. He informed his two children and nephew, who worked in the business, that they could stay with the new owners but would have to make it on their own. This interview was completed shortly after Steve closed on the sale but before the long-term consequences of his actions are fully known.

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