Greg Norman’s 200-year foresight

Most businesses owe their existence to their founder's genius, talent, luck or just plain hard work. One of the major obstacles to passing those companies to family members is the need to replace the founder's vision, not to mention his or her personal connections. The closer the company's success is tied to the founder's persona, the more challenging the transition.

Great White Shark Enterprises epitomizes that challenge. The brainchild of golf legend Greg Norman, 60, the company is currently preparing for transition to the second generation of family leadership. The first order of business for Norman and his children is to make the company independent of his oversized presence without losing the many advantages of identification with the founder. That's difficult when everything about the company, from its name to its largest revenue producers, is related to the man.

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