Family Business Breakfast Series
Friday, May 12, 2017
The succession process requires one generation to let go of control and another to be trusted enough to take it. But the transition is never as simple as handing the reigns from one family member to the next. Hear from longtime St. Thomas Family Business Center member, B&F Fastener Supply, about this company’s transition from the founder to three of his children (and a fourth outside the business), and the important role non-family members play in support.
The panel discussion will include founder and CEO Loren O’Brien and his daughter and future president, Nicole Baltes, as well as a key non-family executive and the family’s attorney. They will discuss their roles in the transition, what has gone well or could be improved, and how the family and business are positioning themselves to remain on the company’s current growth trajectory.
After this breakfast, you’ll be able apply aspects of B&F Fastener Supply’s succession plan and process to your own family’s plan. You’ll learn tips and tools they used to choose who would manage the company and how they communicated this change with family, employees, vendors and customers. In addition, you’ll learn how the senior generation is letting go of control and methods the next generation used to gain trust.
Learn more about the family’s transition in Industrial Distribution magazine.
First-time attendees are invited to join us for breakfast as our guest to see if it meets the needs of your family. Regular registration is $125 per family or sign on for the whole season (seven breakfasts) for $725.