Opinion | How owners and professional CEOs can get along well4 min read . Updated: 04 Nov 2019, 10:43 PM IST
We should try the idea of a two-tier board: a management board and another one in a supervisory role
Family businesses in India constitute more than 95% of all businesses and have largely remained owner-driven. The challenges of growth, technology disruptions, a paradigm shift in the regulatory regime and global competitiveness over the past two decades have led family owners and promoters with controlling interests to increasingly engage professionals to lead their businesses. While doing so, however, they have tried to retain an unfettered ability to rein in, at will, their professional CEOs.
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