Hilliard Lyons Family Business Center Summit 2013

Louisville, Kentucky
Friday, November 01, 2013
Hilliard Lyons Family Business Center Summit 2013
Friday, November 01, 2013 1:00 PM - 4:00 PM (Eastern Time)

Louisville Marriott Downtown
280 West Jefferson Street
Louisville, Kentucky 40202

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Two next generation family business leaders will come to Louisville in November 1 to talk about two very different leadership transition tales.  Their stories are relevant to anyone contemplating leadership transition in their business, but especially to family business sons and daughters and their parents.

Both Nick and Kevin are considered young to be leading companies of such size, depth, and magnitude. They will talk about their journey to the top, and what they did to prepare and legitimize themselves for the role of President, as well as what they plan to achieve in the future. 

Nick Brayton, age 34, is the seventh-generation President of a 180 year old company, Woolrich,Inc,  Woolrich sells durable and stylish clothes for outdoor leisure and is literally part of the fabric of American history, having supplied the U.S. military since the Civil War.   He was mentored and trained by a non-family CEO whose job it was to bring back family control of the company after Nick’s 55 year old father passed away tragically and unexpectedly at work in 2007. 


His story is instructive to any non-family executive of a family business, as well as family members who are working alongside non-family executives.  He can speak to the impact of crisis and tragedy on a family business and what to do when the unexpected occurs.  He ascended to the top alongside his cousin, Josh Rich, who is the Executive VP.  Nick has experienced firsthand the dynamic of the cousin team in a family business, as well as the challenges that a young leadership team faces within an established culture; albeit one that prioritizes family leadership as a core value.  

Nick, a graduate of Ballard High School in Louisville, began working at Woolrich in 2006 after earning a law degree from the University of Northern Kentucky.  He was interested in licensing at a time when Woolrich was looking to expand.  On January 24 2013, Brayton released an open letter announcing the company’s plan “to tackle a new challenge…bringing manufacturing back to Pennsylvania, one step at a time.”  Nick’s uncle is in sales, and his cousin and stepmother serve on the board.  His story was featured on the cover of the Spring issue of Family Business Magazine (read the article here).

 


Kevin Koch age 46, is President and CEO of Koch Enterprises, Inc. founded in 1873, an Evansville-based multinational corporation. It’s a diversified company operating in automobile parts manufacturing, wholesale distribution, metals recycling, and equipment design and construction.  Kevin Koch recently took his father, Robert L. Koch’s, place as President and CEO, and Robert will remain as Chief Executive Officer and Chairman of the board.

 Kevin worked elsewhere for 10 years at different companies with different levels of responsibility.  A metallurgical engineer with 21 years of professional experience in manufacturing management, Kevin came to Koch Enterprises from Brake Supply where he was president for six years, growing revenue by 40 percent. During his time at Brake Supply, Kevin identified, acquired and integrated two companies successfully into the Brake Supply organization.  He also brought two product lines to market organically. As Gibbs purchasing manager, he oversaw annual spending of USD 100 million and worked overseas in Hungary and Korea for extended periods of time. Prior to working for the family business, he was employed with Electronic Data Services in Plano, Texas, Ford Motor Company in Cincinnati, Ohio, and Siemens (formerly Westinghouse Electric Corp. Power Generation) in Orlando, Florida.

He competed against other family members for the presidency, as part of a formal planning and selection process that began almost as soon as he was born.  His father Robert will be presenting alongside him, and will offer advice to parents who are faced with the difficult choice of selecting one of their children to take over the family business.  Robert’s clear advice to any outgoing CEO contemplating transition would be to “start now.”  The Koch’s can also speak to the value of a strong board in the succession planning process, as well as the leadership roles that an outgoing founder or president can continue to serve within the family business in order to assure continuity.

 The average succession planning process takes between 5-15 years, so it is never too early to begin.   Join us on November 1st and learn how to do it successfully. 
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Following the presentation please join us for a networking reception from 4:30-5:30 p.m. Hors d'oeuvres and a cash bar.

Reception sponsored by: 
 

 

 

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