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The next decade will see a shift in leadership at family businesses. Of more than 3,000 family-biz CEOs and top executives answering an Arthur Andersen/Mass Mutual survey, 42% predict a new CEO in the next five years. Since the average tenure for such CEOs is 24 years, six times the rate at nonfamily companies, that's impressive turnover. The poll also suggests more new CEOs will share power as co-CEOs and more women will rise to the top. They'll inherit healthy balance sheets: 68% of family-owned companies report little or no debt.
EDITED BY EDITH UPDIKE
Updated June 15, 1997 by bwwebmaster
Copyright 1997, Bloomberg L.P.