CEO: "Chief Emotional Officer"
"Strategic Management
Many Family Firms Rely on a Largely Invisible CEO - Chief Emotional Officer -
When your family business involves an extended network of 52 family shareholders, as it does for Bukit Kiara Properties, a Malaysian real estate development firm, simply pulling everyone together for family dinner can be hard work. But N.K. Tong, who co-founded Bukit Kiara with his father, says there's just one person to call: "My auntie." Tong's aunt plays a role some scholars describe as "chief emotional officer," an informal position usually filled by a family member or close advisor. But the topic is not as warm and fuzzy as it sounds: Not only can the job be stressful, it can fall by the wayside as businesses are passed on to succeeding generations. "
When your family business involves an extended network of 52 family shareholders, as it does for Bukit Kiara Properties, a Malaysian real estate development firm, simply pulling everyone together for family dinner can be hard work. But N.K. Tong, who co-founded Bukit Kiara with his father, says there's just one person to call: "My auntie." Tong's aunt plays a role some scholars describe as "chief emotional officer," an informal position usually filled by a family member or close advisor. But the topic is not as warm and fuzzy as it sounds: Not only can the job be stressful, it can fall by the wayside as businesses are passed on to succeeding generations. "
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