In 1993, when I joined our Evergreen® family business, Haws, the company was being operated by two grandsons of the founder—my father-in-law and one of his cousins. The company, which manufactures hydration and emergency response equipment, was founded in 1906, and the cousins represented third generation family leadership in the business.

When I stepped in, there was an unspoken understanding that the two cousins ran the business, and no other family members really asked questions. My wife has no recollection of any conversations around the business while she was growing up; family shareholder involvement was really non-existent.