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Non-family CEOs in privately owned family firms: Searching for fit

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  • Arbussà, Anna
  • Marques, Pilar
  • Bikfalvi, Andrea

Abstract

This article contributes to the understanding of why some management experiences of non-family CEOs (NF-CEOs) in privately owned family firms (POFFs) are successful, while others are not. It uses the flexible pattern-matching technique to examine seven case studies of POFFs with different experiences in recruiting NF-CEOs. Drawing on human capital specificity and heterogeneity, as well as socio-emotional wealth perspectives, our analysis suggests that NF-CEOs and owning families must invest time to gain knowledge of each other. Consequently, longer minimum tenures are required compared to non-FFs, making the alignment of NF-CEO and successor life cycles crucial for success. A cooperative and long-term-oriented personality of NF-CEOs is also relevant to fit the context of family businesses. This article is the first to adapt the specificity of human capital theory to the study of NF-CEOs.

Suggested Citation

  • Arbussà, Anna & Marques, Pilar & Bikfalvi, Andrea, 2025. "Non-family CEOs in privately owned family firms: Searching for fit," Journal of Management & Organization, Cambridge University Press, vol. 31(6), pages 2679-2698, November.
    • Handle: RePEc:cup:jomorg:v:31:y:2025:i:6:p:2679-2698_7
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