Selecting the Next Business
Leader Among Three Sons

How Platinum helped a family business to transition successfully into the third generation

Situation:

The second-generation owner of a $10 million service company appeared to be at the top of his game. A locally recognized leader in his industry, he had earned a national reputation for craftsmanship and business acumen. But his dream to have his three sons work in the business had become a nightmare. The owner was disappointed by his sons’ lack of performance even though he had promoted them to positions of responsibility. Platinum Group’s Tom Hubler was invited to resolve issues and propose solutions for the company’s transition from second to third generation.

Challenges:

• While each of the sons had “grown up” in the company, none of them demonstrated the necessary skills to take over leadership.
• No clear plan was in place for transitioning the company to the third generation.
• The father’s desire to maintain close family relationships.

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