Challenge: The family had agreed on a succession plan, but the current CEO was reluctant to give up the position while the designated successor was eager to take over. They had tried to deal with this challenge for two years before hiring CO2 Partners.
Action: We worked with the two to discover the real barriers and fears associated with making this move. We coached them on developing an action plan that enabled both to see the opportunities the transition would bring them.
Result: Within three months they had transferred the position and authority. The new CEO continued to work with CO2 Partners, and the company has continued to thrive with the transition.