Emergency Exit Planning: Does a Beneficiary run, sell or close the firm when a Founder dies?

This decisional critical incident commenced in 2014 with a founder and his wife who solely owned two Westcoast manufacturing plants, known as Custom Fiberglass Product Manufacturing Company (CFPMC). Unexpectedly the co-founder Joe Smith passed away, and his wife Sara a company employee of ten years was the beneficiary. Students are asked to explore concepts of the manufacturing process, exit planning as part of a business plan, and recommend to Sara what is her best path forward. “Was it best for her to run, sell or close firm?”