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Three Generations of Family Entrepreneurship, Conflict, Transitions and Connection From Swords to Ploughshares

 
Three Generations of Family Entrepreneurship, Conflict, Transitions and Connection From Swords to Ploughshares Case awarded
Randel Carlock and Elizabeth Florent-Treacy
Copyright: 2009 INSEAD
 
Harry McNeely Sr started a storage and transport company with his brother-in-law in 1916. Whereas his sons, Don & Harry Jr, were taken into the company, Harry Sr made provision for his two daughters to be financially independent but gave them no stake in the family business. After his death, the daughters contested the will and were made minority shareholders, but not before the family had endured the largest court ordered business liquidation in Minnesota's history. Things settled down for a while but then another problem emerged: the succession had not been settled. Although Paddy, Harry Jr.'s son, was keen to run the company, his ageing father was reluctant to hand over the reins. In parallel, participation in the family's charitable foundation successfully united all the cousins of the third generation.



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