Saw the news this week and found it kind of …. odd. Especially given the relationship between the two CEOs (father/daughter). Kinda diminished my perception of the brand. I'm sure she 'earned it,' but can anyone provide any detail/insight into what's going on here? For me, it sends the message they want to maintain a 'family owned business culture' at the expense of a more competitive environment
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agreed… seems like I’m rewatching Dynasty
Dont go work for Hines then
Not sure if you fully understand the Hines business model - it essentially functions as a partnership with the heads of each regional division being a sort of "CEO" in their own right. The company has always been family-owned at its core and of course they want to keep the business in the family (what private business owner doesn't if their kid is interested?), but there's still a ton of room for advancement and success.
This wasn't unexpected at all, Gerald Hines was on the Leading Voices in Real Estate podcast a few years back talking about how he and Jeff were prepping for this.
Yeah I'm sure it's based on merit...
Really though, I'm sure all of the higher ups at Hines knew this is how the company works and don't really care about the CEO title. They're running their respective regions/offices and are trying to make money. Who inherits the firm is, most likely, less of a concern.
What’s wrong with a family owned business? And just because they promote the CEO from within the family doesn’t mean they can’t stay competitive. As long as they can keep the correct talent and give employees what they want, people will stay. The CEO leads from the strategy perspective. Some people may leave because they were “passed over” for CEO, but that’s too be expected. Other people won’t really care because they may not have wanted it, or expected it. Family owned businesses are everywhere and many times, the family tries to keep control for future generations.
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This plan was known internally for 4 years. It’s not a shock to anyone.
Does it really matter, how is the granddaughter of the founder taking over any different than his son being the ceo?
Hines is run by the family, always has been, always will be.
Yes, the daughter of the CEO coincidentally "earned" it over any other prospects. There's a video of the father explaining the promotion and looks like he has trouble himself saying what he thinks she brings to the table. Basically her "fresh" perspective lol.... but their company so their choice.
If you're concerned with getting the top spot, don't join a family owned firm where the second generation is at the helm and there's 2 of the third generation working through the ranks. If you think one of them aren't going to eventually be in the top spot, you're very naïve. FWIW, when I worked at Hines the one thing that was abundantly clear was it was and always will be a family lead firm, and I mean that in a positive way. It's clear Jeff, Laura, and Adam genuinely care about the firm and the brand, it isn't just a source of income to them. It was also clear that Laura was being positioned to succeed Jeff and that Hines was undergoing a strategic transition, similar to the transition that took place when Jeff took over from Gerry.
If the granddaughter taking over from the son of the original founder is what lowers your perception of the firm, this doesn't make much sense logically if you had no negative perception of the firm with the son of the founder as CEO.
Matt works at Hines now too.
OP, not sure what to say.... you are surprised named 'Hines" has a CEO with a last name 'Hines" who will take over for a CEO named "Hines" who took over that role from a founder named.... "Hines". Not sure why its surprising, the Hines family still provides the internal equity and loan guarantees, so when someone not Hines provides the backup capital/PGs, they can set the new CEO
It's actually "Hines-Pierce"
^This... you know now that I think of it... It's probably the Pierce connection that got her the opportunity!
Lol….there is a resemblance
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