On his 80th birthday, media magnate Logan Roy, whose imminent retirement was thought to be a given, shocks his family by announcing he's staying on indefinitely as CEO of Waystar/Royco. The news shatters his son Kendall, the heir apparent who's in the midst of negotiating the purchase of a digital-media venture founded by a slick operator named Lawrence.

Logan's incapacitation sets off a heated succession debate among his children, as the Board rushes to inform the media about leadership contingencies before the stock market opens. Greg is tasked to retrieve some important items from the Roy apartment. Kendall makes an impassioned final plea to keep Waystar/Royco in the family, and receives some sobering news.

With Waystar's stock plunging to dangerous lows, Kendall is confronted with a major crisis involving a secret bank debt. Upset with Marcia for pulling rank in the Roy apartment, Shiv decides to enlist an old paramour to conduct a background check on Logan's third wife. Kendall and Roman attend their first big meeting in their new roles, as do Tom and Greg.

With the company’s annual foundation gala fundraiser approaching, and his dad out of the picture, Kendall polishes up his speech while enlisting an on-air personality from the Waystar’s ATV Networks to accompany him. Shiv tries to minimize damage from a sordid photo that threatens a client's political future. Tom inherits a “virus” from his predecessor.

After hearing Logan’s plan to expand in to local TV, Kendall begins to plot a vote of no confidence against his father. Greg drives his ornery grandfather Ewan from Canada to New York for a Thanksgiving reunion with Logan. Tom grows increasingly concerned about the terms of his prenuptial agreement with Shiv, and recruits Greg for a clandestine task.