The Hero's Farewell: What Happens When CEO's Retire

How a business replaces its chief executive is a vital issue for a firm's future. Illustrated with case histories taken from corporate boardrooms and fresh conceptual perspectives, this book describes the factors that affect executive succession. The Marxist prediction that capitalist bureaucracy must inevitably neutralise individualistic leadership in industry, has been disproved over and over by the careers of industrial 'superstars' from Andrew Carnegie to Henry Ford, Lee Iacocca, Estee Lauder, and David Rockerfeller - all of whom could be described as having made their own personal stamp on their respective businesses. Arguing that personality can also affect the departure styles of retiring CEOs, Sonnenfeld defines four principle types: Monarchs, Generals, Ambassadors, and Governors. The personality of each type is outlined in interviews with real-life business leaders and illustrated with numerous pithy anecdotes, making The Hero's Farewell both a well-researched and an entertaining read.