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| Your Family's 100 Year Plan Part III |
Contenders for the Crown
Jan Alexander
02/01/2005
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For the fifth generation of the Johnsons (the other Johnsons, of the paste wax empire), reinventing the family narrative meant a trip to retrace their grandfather Sam Johnson’s 1935 adventure in the Brazilian jungle. He had flown an amphibious aircraft there from Milwaukee and back to study carnauba palm trees, an important ingredient in Johnson wax, and to open a school. The family called its trip a pilgrimage and says that it has helped them better understand the company’s story. This, in turn, has helped them navigate the delicate matter of succession, which has required them to carve the company into three separate and unequal parts, each run by one of the Johnson children, and which has left another branch of the family, the Louises, unhappy at finding themselves left out of the picture.
Indeed, many a dynasty comes to blows over who in the fourth generation will actually take over the family business. However they determine a successor, Mayer believes that the most enlightened families want their CEO-designates to have extensive experience both outside and within the family firm. Heirs-apparent must work hard to prove they have the strategic and diplomatic skills necessary to pilot the business to success, while keeping family feuds from undercutting their effectiveness.Illustration by Jonathan Barkat.
 Back to Main Article: Your Family's 100 Year Plan Part III: Fractured Finances
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