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Succession: Sheetz and Ford plan for the future

Two American family businesses have taken different approaches to their succession planning, with Sheetz relying on its owners while Ford will continue to put its faith in non-family Alan Mulally.
Succession: Family business Sheetz plans for the future

Two American family businesses have taken different approaches to their succession planning, with Sheetz relying on its owners while Ford will continue to put its faith in non-family Alan Mulally.

Joe Sheetz, presently executive vice-president of finance and store development, will become president and chief executive of convenient store chain Sheetz next year.

The company, one of CampdenFB’s top global challengers this year, also said on 2 November that current president and chief executive Stan Sheetz will take over the role of chairman.

Steve Sheetz will leave his chairman seat at the $6 billion (€4.7 billion) family business to take on the chairman role at the family’s council. The changes come into effect in October 2013.

"We always want to be sure the family has a strong role in the future of the company," said Steve in a statement.

"We'd like to ensure that Sheetz continues to be a family business. Bringing in a new generation of leadership is an exciting first step toward maintaining that legacy."

Meanwhile, Ford said well-regarded non-family chief executive Mulally will continue to serve as Ford president and chief executive until at least 2014.

“We are fortunate to have Alan’s continued leadership as well as talented senior leaders throughout our company who are developing and working together and delivering on our plan,” said family member and Ford executive chairman Bill Ford.

The company also named Mark Fields, who heads the company’s Americas division, as the new chief operating officer, effective 1 December. 

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