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Stock impact report

Stepping Up: What Family Business Leaders Can Do After They Step Down [Forbes]

Corning Incorporated (GLW) 
Last corning incorporated earnings: 4/28 07:15 am Check Earnings Report
Company Research Source: Forbes
Amory “Amo” Houghton Jr. followed his father and grandfather to become the 5th generation to lead their family business, Corning Incorporated (formerly Corning Glassworks). But unlike many family business leaders, he stepped down at age 60, handing over the leadership to a younger family member, as was required by the family’s retirement and succession agreement. This is not what is expected from family business leaders. The more common expectation is to see an 80-year-old patriarch vowing never to step down. Most aging family business leaders have two dominant desires that are often in conflict. On the one hand, they want to pass the business on to their children. At the same time, they like what they are doing and want to keep doing it as long as they can. But staying on too long can endanger their first desire: successful transition to the next generation. Why do family business leaders want to stay on so long — way past the average age of retirement? The reasons are o Show less Read more
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