The business/family structure of Ferre Rangel is very complex. One thing that is for certain is that this family business is definitely geared more towards a business standpoint. This is shown in the way that they held their family meetings and business meetings together. There are a lot of changes coming for this company. Among these changes are the eventual retirement of Antonio L. Ferre, the passing of the torch to his children, and the eventual integration of his 10 grand children into the family company.
One thing we can look at for guidance are the policies that the family has had in the past as they pertain to integration in the company. Before the succession roles were discussed for the siblings they were already working for the company. And before they could work for the company they had to obtain their education. I feel that these rules should be applied to the next generation. The grandchildren should, as they come of age, go to school and get their education/degrees. They should then, if they choose, be allowed to work for the company at low level positions. Then their parents can hold the same type of planning sessions as to the succession of the grand children.
Antonio L. Ferre needs to lay down a ground work for the rest of the family to follow. He will not always be around to give his input, and should leave some sort of guidance, as he has done well with the family business thus far. The family has been very wise in their use of non-family managers and board members. I believe that they should utilize these valued assets of theirs to assist them in the decision making processes. By this I mean that A.L. Ferre should consider passing his tie-breaking power on to a non family member. This would alleviate any one sibling using it to further their own agendas over those of the company.
All things considered, I believe that this family business is destined for long term success into the distant future. A.L. Ferre and his wife...
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