President, Yum Yum Donut Shops, Inc.
How should a company plan for family succession?
|I think family planning succession is very important. And in my case I had a lot of benefits. First of all my dad kind of lead by example just in the way he approached work, the way he was a hard working guy, the way he stressed education. So also as a child my brothers and sisters and I, we saw the company grow and we always felt excited about seeing the company taking those next steps. As a result I started working for the company at a fairly young age in high school I first started out as a clerk working in the stores then as a baker then as an assistant manager then and a manager and then finally a district manager. With all that time spent at the store level it certainly gave me a lot of great experience as well as a tremendous appreciation for the folks that are working so hard in those stores. In addition once I was in more of a management position for the company I really will always appreciate my dad giving me the chance to not only to have some responsibility but to be able to make my own decisions. And some of those decisions were hindsight not always the best of decisions but that is always just a great way to learn.|