Succession Planning

Charley Jones has a problem. He's nearing retirement age and must find a successor in the business that has taken him a lifetime to build. His two children are competent, and each wants to be CEO.

The family has always been close. Charley knows that if he chooses one of his children to lead the company, he will alienate the other and disrupt family harmony. He doesn't want to make the choice. Then again, maybe he doesn't have to, he realized. Why couldn't both run the company together, equally sharing responsibilities, decisions, and equity?

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