He Decided To Retire And Leave His Business To His Protégé, Who Is His Son’s Friend, Instead Of His Children
This 58-year-old man has two children– a son named John, who is 32-years-old, and a daughter named Susan, who is 29.
And back when he was in his late twenties, he decided to start a business after his kids were born. Ever since then, he has also been growing his company for nearly three decades.
Now that he and his wife are getting older, though, they both agreed that they have more than enough money to retire comfortably. So, he plans to retire soon and has been thinking about who to leave his business to.
This is where some crucial context comes into play. When John was still in high school, he decided to give his son a job at his business.
Soon after that, John also asked if he could provide his friend Sam with a job also.
At the time, he agreed to that, too. But, after just four months, it became clear that John just was not interested in his work, and his son wound up quitting.
“And I will wholeheartedly admit that that was very painful at the time,” he recalled.
While his own son didn’t enjoy his work, though, John’s friend Sam ended up absolutely loving the job. In fact, Sam continued working at his company throughout college and wound up getting a degree in the same field as him.
Then, once Sam completed school, he gave his son’s friend a promotion– and Sam has been working with him ever since.
elnariz – stock.adobe.com – illustrative purposes only, not the actual person
“Sam is very much my protégé, and I see him as my second son,” he explained.
John also happened to study finance. And after working at a few other companies, his son wound up asking for a job at his business again. So, he gave John another shot, and he claimed that his son had been fantastic ever since.
So, he loves the fact that he gets to work with both his son and Sam. When it comes to who will take over the business, though, he doesn’t think John is best for the job.
That’s why he recently took his wife, Susan, John, and Sam out to dinner last week in order to share his retirement plan. He ultimately revealed how Sam would own 60% of the business and take over his position; meanwhile, John and Susan would get 20% each.
As soon as he dropped that bomb, though, John was livid. In fact, he had never seen his son so furious.
John wound up asking how he could ever choose Sam over his own flesh and blood. Then, John pointed out how he was the one who studied how to run businesses– not Sam.
He tried to explain how his son had only worked for him for a few years, though. Plus, John had already quit one time before.
Sam, on the other hand, had worked with him steadily for 15 years. And throughout that time, Sam has gotten to know all of his clients, the production team, and the products. Sam also gained the respect of his existing staff.
But this explanation just pushed John to ask him a pretty pointed question– whether or not he respects his own son.
At that point, he tried to detail how he obviously respected John. He also admitted to knowing that his son was the best at his job.
“But that doesn’t mean he’s the best fit for being the boss,” he noted.
Afterward, his wife and his daughter Susan tried to step in to de-escalate the situation. Unfortunately, though, the damage was already done, and John wound up leaving in a huff. His son has also refused to talk to anyone besides Susan ever since.
And now, he obviously realizes that John is hurt. Quite frankly, though, Sam is just the smarter choice since his protégé has been working under him for years and knows everything about the company.
Still, he has tried talking to John and attempting to apologize. But his son simply won’t talk to him.
So, he has been left wondering whether leaving his business to Sam instead of his son is the wrong decision.
Are entrepreneurs required to leave their businesses to family members? Does it make sense why he believes Sam is the best fit for running the company? Even so, should he have announced the plan in front of everyone before talking to his son in private? How could he have done this differently?
You can read the original post on Reddit here.
If true crime defines your free time, this is for you: join Chip Chick’s True Crime Tribe
She’s Not Allowing Her Nephew To Bring His Service Dog To Her Wedding Because She’s Allergic To Dogs
Brighten Up Your Patio By Growing Roses In Containers, And Here’s How You Can Get Started
Sign up for Chip Chick’s newsletter and get stories like this delivered to your inbox.
More About:Relationships
