Creating an Environment for Successful Nonfamily CEOs: An Exploratory Study of Good Principals

15 Pages Posted: 12 Nov 2007

See all articles by Timothy Blumentritt

Timothy Blumentritt

Kennesaw State University - Michael J. Coles College of Business

Andrew Keyt

Loyola University of Chicago - School of Business Administration

Joseph H. Astrachan

Kennesaw State University - Michael J. Coles College of Business

Abstract

Nonfamily CEOs are an important part of the managerial efforts of many family businesses. However, little academic work has focused on these managers, who reside in the dual worlds of business and family. This article presents a study based on interviews with 27 family members and nonfamily CEOs (NFCs) with the objective of exploring what makes for successful NFCs. We find that successful nonfamily CEO engagements are characterized by the selection of an individual with both business and interpersonal competencies, and the support of both family business boards and councils.

Suggested Citation

Blumentritt, Timothy and Keyt, Andrew and Astrachan, Joseph H., Creating an Environment for Successful Nonfamily CEOs: An Exploratory Study of Good Principals. Family Business Review, Vol. 20, Issue 4, pp. 321-335, December 2007, Available at SSRN: https://ssrn.com/abstract=1028973 or http://dx.doi.org/10.1111/j.1741-6248.2007.00102.x

Timothy Blumentritt (Contact Author)

Kennesaw State University - Michael J. Coles College of Business ( email )

1000 Chastain Road
Kennesaw, GA 30144
United States

Andrew Keyt

Loyola University of Chicago - School of Business Administration ( email )

820 North Michigan Avenue
Chicago, IL 60611
United States
312-915-6490 (Phone)

HOME PAGE: http://www.sba.luc.edu/faculty/facultydetail.cfm?EID=akeyt@luc.edu

Joseph H. Astrachan

Kennesaw State University - Michael J. Coles College of Business ( email )

1000 Chastain Road
Kennesaw, GA 30144
United States

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