It is a myth to think that making it to the top job means that you need to stop learning. CEO's and leaders of family businesses need to be constantly keeping abreast of the world in which they operate and need to instil trust and belief in their senior management team too.
With many family business owners citing themselves as stewards of the business for future generations, keeping up to date, managing the board and making sure it is aligned with the needs of the business and creating a climate for learning and development of individuals, including the CEO, is key.
Boards often think the person in the corner office doesn’t need more development, but this couldn’t be further than the truth. To prevent CEOs from flaming out in the top job, they should build frameworks to help them learn.