In the boardroom, Priya Gowda greeted four men in suits—the creditors of her husband, Partha, who had died suddenly of a heart attack 10 days earlier. She felt numb and exhausted—but also strangely reassured by the setting. The past week1 had been spent dealing with the funeral home, lawyers, the media, and grieving family members. She had barely slept or eaten. But here, in the headquarters of Splendid Ice Cream, the business she’d watched Partha build from a small dairy farm into a major Indian conglomerate, she felt his energy animating her.
Case Study: When the CEO Dies, What Comes First: His Company or His Family?
An entrepreneur’s widow wonders whether to lean in to work or step back.
Summary.
Shortly after the sudden death of her beloved husband, Priya Gowda learns that the company he built from a small dairy farm into a major Indian conglomerate is in deep financial trouble. Unbeknownst to her and his investors, her husband had taken on a lot of short-term, high-interest loans, and the company is struggling to make its payments. As sole heir to his majority stake in Splendid Ice Cream, Priya is now its de facto CEO. Her creditors advise her to sell or liquidate the company, but Priya is determined to preserve her husband’s legacy. Her daughters, however, worried that the business is taking too high a toll on her, beg her to let it go. Should she give in to them or keep trying to save Splendid? Expert commentators weigh in.
A version of this article appeared in the September–October 2023 issue of Harvard Business Review.