Michael Simonyi | Navigating Family Business Succession | Confessions of a Recruiter #71
Discover what lies at the heart of succession planning woes as we unpack the story of a Brisbane-based manufacturing company with over a century of history. Our guest, an adept recruiter, shares the distressing tale of a business owner in his 80s, facing health challenges and a deep rift within his family, leaving him to lead alone. This episode peels back the layers of personal conflict and professional turmoil that come into play when succession plans are nonexistent, and the repercussions that follow when new executives are brought in only to leave within the year due to an uncompromising management style.
We tackle the sensitive dynamics of family business succession, including the emotional impact on family members like 'Jack', who may not be the chosen successors. Our conversation extends to the importance of knowing when to walk away from recruitment engagements set up for failure and the necessity for professional guidance during these trying times. Listen closely as our guest expertly navigates through the intricacies of succession, offering invaluable insight and advice for those involved in or working with family-run enterprises.
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