Hey there!
Today we release the latest podcast and also share lessons from a high profile inner-family business drama!
Latest Podcast
We just released Episode 14 where Norm Smallwood, our recent guest, turned the tables and interviewed me.
Click below to listen; and please Follow the show to get new episodes:
During the episode, Norm and I discuss one of his clients. A massive, global organization hired him to facilitate the succession of the company’s CEO role to a Gen 2 leader…only for Norm to find a huge inner-family business misalignment.
We take this potentially global issue and break it into practical steps. What could have been different for them?
I hope you enjoy the conversation.
Chaos in the News
Speaking of global issues, Jerry Buss, the former owner of the L.A. Lakers, died over 13 years ago. He designed a trust to keep the Lakers owned by his family. Six siblings inherited the franchise, but on August 17th, their inner-family business squabbles showed up in Los Angeles Superior Court filings.
Click here for a few interesting lessons learned from CNBC. What I have taken away from the saga is:
Legal document can allocate voting shares, but they cannot allocate alignment or trust.
To further the chaotic drama, the court has scheduled a hearing over the team’s ownership for November 15th…which is during the NBA’s season.
This family fight is a reminder of why family meetings are important - building alignment, communication and trust before they’re needed, so family issues stay out of the company.
Till the next episode…
And as my grandfather would have said, thank you so very, very much for listening.
- Adam Hatcher, for Twenty One Clear
