Subscribe to Entrepreneur for $5

Choosing a Successor

Every great dynasty needs a capable successor. Your business is no exception.

This story appears in the March 2002 issue of Entrepreneur. Subscribe »

Harry Gruber sold his last company for $2.8 billion, but there's one thing the 49-year-old San Diego entrepreneur couldn't do. "I kept trying to find my replacement," he recalls of his time at Intervu Inc., an Internet video delivery service he sold to Akamai Technologies in 2000. "I went through a lot of senior people trying to find that person, changing management and hiring and firing people."

Gruber never found his stand-in, which sealed his decision to sell. Without a replacement, he didn't see how he could retire from Intervu--or how the company would survive if he died.

Memorial Day Subscription Sale- Unlock this subscriber exclusive article and more for 20% off today.

Access all Entrepreneur content with no ads, unlock discounts, and get exclusive advice only available to our subscribers. Plus, our magazine delivered straight to your door.

Get a year subscription today for 20% off. Just use code SAVE20 at checkout.

Entrepreneur Editors' Picks