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How do they handle picking new executives? How will they replace this person when they are no longer able to perform the job at a high level?

• spoonjim 5y ago
  The CEO I spoke to was at least the fifth or sixth. His son was the CEO in waiting and that guys son was a teenager doing dirty jobs on the factory floor so that when he is CEO he will have the workers’ respect and know how the business is done.
  • throwaway6734 5y ago
    This sounds like an interesting model for choosing future leaders but also it seems very risky as it is entirely dependent on a very small selection of people (those in the hereditary line) being able to lead and grow a company. Based on the fate of monarchies around the world, I wouldn't bet my money on it
    • spoonjim 5y ago
      There are two advantages that the family business has: they get to pick the son (In South America, it's usually the son, but in China it's frequently the daughter), it's not always the oldest, and sometimes when there are no suitable sons they go outside the family. In contrast, succession to monarchies is usually fixed, but crafty monarchies often pick the successor as well, such as Mohammed bin Salman in Saudi Arabia and Kim Jong Un in North Korea.