How might the son of the CEO of a medium-sized manufacturing firm succeed as his father’s successor?
Allen Lane had owned and operated Plas-tek Industries, a plastics fluid-flow products company, for nearly 30 years. After several failed attempts to bring in a new partner, Allen’s son, Julian, suggested that he was interested in pursuing this opportunity. This case presents students with documents and financials that surrounded the proposed deal between father and son, as well as a discussion of their different management styles, in order to highlight the issues that faced both parties.
Case ID: 120408