Back to Search Start Over

Chicago still grappling with Jim Crown's death: A year on, his absence exposes a leadership vacuum not just within his family's business empire, but also within a broader civic community.

Authors :
Strahler, Steven R.
Source :
Crain's Chicago Business; 7/1/2024, Vol. 47 Issue 26, p1-1, 1p
Publication Year :
2024

Abstract

A year after Jim Crown's death, his absence has created a leadership vacuum within his family's business empire and the broader civic community in Chicago. Crown's death raised questions about the city's commitment to philanthropy and its high homicide rate. His younger sister, Susan Crown, stated that the family is rethinking their governance structure, but succession planning has been put on hold due to the suddenness and grief of his passing. Crown was known for his roles in business, family, and civic organizations, and his death has left a void that will require multiple efforts to fill. The Crown family's investment and operating companies are currently being managed by Jim's older brother, Steven, and their cousin, William Crown. Jim's children, Andrew and Torie, are also involved in the family business. Crown's legacy in addressing gun violence is being continued by his son Andrew and the family's charitable arm, Crown Family Philanthropies. The Civic Committee of the Commercial Club of Chicago, which Crown was a part of, is working on a violence-reduction program to train job recruits in neighborhoods affected by violence. The program aims to reduce city homicides and create job opportunities. Crown's death has also raised questions about the family's significant stakes in General Dynamics and Chase, as those board seats have remained unoccupied since his passing. Overall, Crown's death has left a significant impact on the business and civic community in Chicago, and his absence is being felt by many. [Extracted from the article]

Details

Language :
English
ISSN :
01496956
Volume :
47
Issue :
26
Database :
Supplemental Index
Journal :
Crain's Chicago Business
Publication Type :
Periodical
Accession number :
178282567