JOURNAL ARTICLE

The Founder's Final Act.

  • Published In: Harvard Business Review, 2025, v. 103, n. 5. P. 86 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Baron, Josh; Francois, Ben; Guidotti, Tony; Hsieh, Nien-hê 3 of 3

Abstract

The article focuses on the critical process of succession planning for company founders approaching retirement, emphasizing how the choice of future ownership profoundly impacts the founder’s legacy, family, employees, and community. It outlines a structured four-step approach: defining the founder’s legacy priorities across key stakeholders; exploring ownership transfer options such as family succession, public offerings, employee or customer ownership, and charitable trusts; experimenting with and refining potential plans; and executing the chosen strategy with flexibility for adjustments. Drawing on examples from companies like Patagonia, John Lewis, and Vanguard, the article highlights the complexities and emotional challenges founders face and stresses the importance of early, intentional planning to ensure business continuity and alignment with the founder’s values.

Additional Information

  • Source:Harvard Business Review. 2025/09, Vol. 103, Issue 5, p86
  • Document Type:Article
  • Subject Area:Business and Management
  • Publication Date:2025
  • ISSN:0017-8012
  • Accession Number:187287193
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