Keegan returns. The fans go wild. The big question is: should you ever go back? The question is not just about Keegan, Newcastle or even football. Recently, Michael Dell has taken back the hot seat at Dell. And Howard Schultz is back as CEO at Starbuck’s. Both are founders of iconic companies. Both had "stepped back" to enable "professional" management to take over. OK, so the situation is different. Dell and Schultz still own great chunks of equity in their companies. Keegan is just a hired hand. But both presided over "glory days." Keegan made Newcastle exciting. All were poster boys as managers. So is it a good idea? For an academic perspective, here’s an interesting analysis.
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