Not unlike a poker game, in business, it’s important to know when to hold ’em and when to fold ‘em. Most corporate Chairmen know when it’s time to leave, though a handful, such as founder-billionaire Sumner Redstone, sometimes overstay their welcome. In such cases, consequences can be harsh. Besides the tumult of power play struggles for executive leadership, there may be thorny litigation issues that spill over to one’s personal life. And these problems often exacerbate with rising levels of ownership/control, as it makes it more difficult for outsiders to stabilize the situation when there is confusion at the top.
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