I've worked and grown a territory for 25 years, twice spinning pieces off to others to grow the company. Now, I'm suddenly told that 1/4 of my territory and my income is going to the ceo's "favorite" with no input from me and no compensation to cover this huge blow. The territory is meeting it's goals, I have never been cited or clued in that any such thing was coming. It's a clear push to get me out - I have about 5 years left and the other guy is 10 + years younger and has worked hard to kiss up to the tyranical dictator of a CEO. Do I have any recourse?

What does your employment contract say about this? If you have none, they can take anything they want and give it to another salesperson.

Do you have any written agreement at all.