subscribe
back issues
reprints
contact us
Wealth in Perspective
Wealth Management
Thought Leaders
Money and Meaning
Passion Investments
Wealth Management Sourcebook
Multifamily Office 2008
Previous Issues Index
/ Home / Editorial / Thought Leaders / Profiles /
Visions & Revisions
Cymbals of Success
06/01/2005

In the world of percussion, Zildjian cymbals are the gold standard. The list of artists whose drum kits include Zildjian products is a veritable who’s who of global music, featuring everyone from jazz great Louie Bellson to rock legend Mick Fleetwood and contemporary musicians like Linkin Park’s Rob Bourdon. Beyond the celebrity of its clientele, however, the Avedis Zildjian Co. of Norwell, Mass., stands out in another way: Having operated continuously for 382 years, it is America’s oldest family owned business. Worth features editor Douglas McWhirter talked to Craigie Zildjian, the company’s CEO, and her sister Debbie Zildjian, the vice president of human resources, about the enterprise that bears their name. As the first women to run the company, they offer a unique perspective on succession, business passion and the responsibilities that come with a centuries-old family legacy.

How have you managed to keep the Avedis Zildjian Co. in the family for so long?

Craigie: Our family ran this business for over three centuries in Constantinople. European businesses had primogeniture, which made succession very simple and clear. When my grandfather came to America in 1929, he incorporated the business here, and now we are three generations in the United States. The company today is very much based on our heritage. We have inherited a business that is 382 years old, and that means a lot.

Debbie: We grew up talking about the family business. It was part of the way we lived. We always heard about the history from my grandfather, talking about his family in Constantinople. Every week the family got together and talked about the business, so it was ingrained in us. It was part of our life. We try to talk to our kids about the business as well. Our family has always grown up saying, “It is not your birthright to be brought into the business. It is a privilege, and you have to have a passion for the business and you have to contribute to it and pay your dues.” My father was always very big on that. You have to have a good work ethic.

Yet growing up you did not really consider a career in the company?

Debbie: It was kind of strange, because even though we never had the expectation of a career in the business, we grew up in the business. We were always talking about the artists and the customers. We would have them to our home. I remember one time we had the whole Maynard Ferguson band at the house, and Buddy Rich was there once on my birthday. Whether or not it was a conscious decision to make it a career, we were still participating in the business.

Craigie: I think that’s critical. There is this involvement. It is not a [separate matter of] “here’s the family, here’s the business.” There is a huge overlap.

You joined the company at a time when it was unusual for women to lead family businesses.

Craigie: It was unusual in that day. There was no precedent for women going into the business, so Debbie and I actually thought we wouldn’t have the option. But my grandfather, who was very forward thinking, invited me into the business in 1976. Nowadays that sounds pretty simple, but back then that was a radical decision—particularly in a business like this where percussion was viewed as a primarily male instrument. Now you see women playing drums, so that’s a big change. It was up to my grandfather to set the tone. He said, “We’ve always given stock out to the male members, but I’m going to start gifting stock to the females.” That was the first level. My father and grandfather always wanted us to work summers here, so we knew people in the industry. It was kind of like being home.

Debbie: I have a master’s degree in political science, and I was very much into the women’s movement. It was the early ’70s and those were the kinds of things everyone was talking about. This was the first time that women were supposed to take advantage of all these opportunities. We would talk politics at home, too, and my father was very open to all that.
1 | 2 | 3 | >>
Printer Friendly Version  Email a Friend


Related Articles
» Fractured Finances
» Failed 100 Year Plans
» After The Diaspora
» 100 Year Plan Part IV: Planning Our Own Obsolescence
» 100 Year Plan Part IV: Culture Shock
 
Get a FREE ISSUE and a FREE GIFT

Simply fill out this form to receive a complimentary issue of Worth and a FREE gift ("The top 25 Questions for Your Private Banker"). If you like the magazine, you’ll pay just $36 for 5 more issues (6 in all). If it’s not for you, you can return your invoice marked "cancel", and owe nothing. The FREE issue and FREE gift are yours to keep.
Name
Address
Canadian orders click here
International orders click here

Unsubscribe from subscription emails click here
 



Family Office Wealth Conference