Caroline Pill on why even family-run brands can’t restrict their talent pool to a single gene pool.
are all global firms where the founding families retain a controlling stake and, in many cases, positions at the top table. Whether under new ownership, family-bound or not, the fact remains that brands with a global consumer base cannot feasibly grow and succeed against modern market demands by restricting their talent pool to a single gene pool. And succession can often become an issue if there is no suitable or willing candidate from the next generation.
At some point, even the most successful family-run firms need to engage outside leadership to ensure the company can continue to adapt to a changing world and secure the longevity of the brand. And this presents unique search and assessment challenges in itself. Hiring an outside executive into the relatively closed environment of any family business invariably creates an intriguing cultural dynamic.
Change is constant, cultural fit often outweighs commercial success, and the relationship between the CEO, as a business leader, and the creative director, as the driver of the brand, is proving to be the most pivotal.
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