Page 38 - Fisherman's Friend Case Study
P. 38
Succession
“Are you never worried about the succession problem and family
continuity? Couldn’t your son tempted to sell?
Doreen Lofthouse: No, my son, Duncan, is absolutely dedicated to the
business. He is a very gifted financial man and the logical successor to
this business.
What are the advantages and disadvantages of running a family
company?
Doreen Lofthouse: There are no disadvantages; there are only
advantages because they listen to mother!
Tony Lofthouse: I think my wife’s motto is: "Be reasonable, do it my
way!"
Doreen Lofthouse: Nonsense, this is an "extra strong" marriage!
Why do you remain a limited company? Would you not be able to
expand more quickly if you could draw on the international capital
markets?
Doreen Lofthouse: We wouldn’t wish to lose control. Having to explain
to investors in our company what we did, why we did it, why have we not
done this or that etc., it would drive us mad.” (2)
