Can longtime employees actually transform when the next generation takes over?

Yes, when they're stretched and supported instead of pushed aside. Kris Kluver, in The Dysfunctional Family Office, has Frank, the longtime company attorney, share the transformation at the year-anniversary meeting. Frank had been uncomfortable as hell during the year. The work was mildly frustrating at first. He had never been so challenged to get outside his comfort zone. Somewhere along the line, something flipped. He got energized. Revitalized. He was learning again. Growing again. The pattern is real but not universal. Some legacy executives can make the leap when given new challenges and explicit support. Others can't, and the right move is to let them step aside with dignity. The difference is usually whether the executive is willing to stretch. Frank chose to stretch and discovered something the next generation had unlocked in him. Brett, the CFO, didn't, and they parted ways with mutual respect.