DCU - Family Business Succession by Vincent Carton Poultry - - PowerPoint PPT Presentation

A PRESENTATION TO

DCU - Family Business Succession

by

Vincent Carton

Poultry Industry - up to 1960’s

Boiling Fowl Spring Chicken

2014 41m Birds 155,000T feed €238m 865 employees

Carton Bros, Poulterers since 1775

2013 40m Birds 151,000T feed €231m 815 employees

Succession – Carton’s Story

Succession

• 1. William Carton

1723 – 1790 Carpenter/Livery stable

• 2. George Carton

1755 – 1804 Livery stable

• 3. Peter Carton

1787 – 1830 Poulterer

• 4. Denis Carton

1813 – 1865 Fowl & Game Factor

• 5. Thomas Carton

1844 – 1927 Joseph Carton 1842 – 1921 Partners, Carton Bros. Peter Joseph Carton 1851 – 1938

• 6. Vincent Denis Carton 1888 – 1963

Fonso Carton 1885 – 1981 Directors, Carton Bros Ado Carton * 1894 – 1990 Thomas Martin Carton 1897 – 1967 Leo Anthony Carton 1887 – 1913 Worked in Carton Bros Peter John Carton 1898 – 1936

• 7. Thomas P. Carton

1922 – 2012 Brian Carton 1924 – 1985 Directors, Carton Bros Myles Carton * 1928 – Hugh Carton * 1920 – 2003

• 8. Vincent Carton

1958 – Justin Carton 1959 –

Carton Bros

• Estd. 1775

Poultry & Game - 1775 - Present Boiling Fowl 1775 – 1960’s Turkey (Christmas) 1880’s – 1976 Rabbits 1890’s – 1956 Game 1890’s – 1980’s Chickens - 1961 – present Hatchery 1968 – 2008 Processing 1961 – present Feed Mill 1976 - present Eggs 1890’s - 1988 Tea 1930’s - 1969 Grocery 1890’s – 1976 Cash & Carry’s 1950’s - 1976 Butter 1880’s - 1970 Bachelors' Peas 1927 - 1938 Wines & Spirits 1850’s - 1965 Imported Tinned Fruit Agents 1950’s - 1986 Chilled Food Distribution 1991 - 2003

Carton Bros

• Estd. 1775

• Family

– Happiness – Wealth transfer & growth – Togetherness – Fairness

• Business

– Values – Meritocracy – Professionally managed

• Divorce / Spouses / Capital

Family Business Dilemmas

• 1. William Carton (1723 – 1790)
• 2. George Carton (1755 – 1804)
• 3. Peter Carton (1787 – 1830)
• 4. Denis Carton (1813 – 1865)

Peter Joseph Carton

(1851 – 1938)

Joseph Carton

(1842 – 1921)

Thomas Carton

(1844 – 1927)

5

Ado Carton *

(1894 – 1990)

6

Vincent Carton

(1888 – 1963)

Fonso Carton

(1885 – 1981)

Thomas Carton

(1897 – 1967)

Leo Carton

(1887 – 1913)

Peter Carton

(1898 – 1936)

Hugh

7

Brian Ruth Ann Myles Garret Mary Thomas Miriam Enid Helene

8

Vincent Justin

Kate Sophie Isabelle Geraldine Chloe Holly Aimee Alanna

9

Carton Bros

• Estd. 1775

Family

• Gen 1 to 6
• Gen 7
• Gen 8

– 1979 – Vincent – 1980’s – Not happening – The talk (1998)

• Learning's

Succession without a Plan

a) Family Council & Charter b) Good Shareholder c) Summer work d) Criteria for next gen e) Skillset f) Passion g) Progression plan h) Choosing the leader i) Standing on the shoulders of giants

Family in the Business

• Transfer timing – Crisis
• Wealth transfer – what exists
• Who selects the leader ?
• Family engagement
• Non family
• Talk of failures

Learning's

Thank You

DCU Centre for Family Business

www.dcu.ie/centreforfamilybusiness Email: familybusiness@dcu.ie Phone: +353 1 700 6921 Linked In: DCU Centre for Family Business

Quinn Family Foundation