Legacy Peer Group
Often during succession planning, our focus is swayed to the incoming generation and preparing them for day-to-day leadership of the firm. That lens is critical, but what about the outgoing leadership? How can the firm and the family continue to utilize their strengths and how do we ensure a smooth transition for the former CEO? Their experiences and relationships are an amazing competitive advantage that non-family companies don’t enjoy.
The Legacy Peer Group is comprised of individuals who are retired from the daily operations of the family business or are looking to transition in the next 5-10 years. Mary Andringa facilitates the group through a discussion of what the next chapter could look like and provides education and resources to plan for what is ahead. Meetings are held quarterly and travel around the state, as we hope our participants will be able to host the group. The group is confidential and flexible to focus on the issues important to them. If you or someone from your family might be a fit for this, we would love to talk more about how this program will look.
Upcoming Event
This session will focus on transitioning to the "third phase" of life. Our special guest speaker will be Jerry Foster, founder and current Chair of Foster Group in West Des Moines. Mary Andringa will lead the conversation and discuss how she now guides Vermeer employees through transition planning, inspired by her own experiences and work with Foster. All retired or soon-to-retire leaders of a family business and their spouses are invited to join the session, hosted by Cedar Ridge Distillery. Lunch is included.
Planning for your third phase
Take a few minutes to listen this episode of Never Go Against the Family, where Dan talks with Jerry Foster, the founder and former CEO of Foster Group in Des Moines. Jerry leads periodic workshops for our legacy group about this concept of the third phase of life. What does retirement look like? How do you let go of a business you’ve worked hard to build? Keep listening as Dan and Jerry explore these questions.
FACILITATOR
Mary Andringa
Chair Emeritus at Vermeer Corporation
Andringa, daughter of Vermeer founder Gary Vermeer and a second-generation company owner, has guided the Pella-based global corporation into its third and fourth generations while also breaking new ground for women in the manufacturing industry. She remains the only woman to have led the National Association of Manufacturers, one of the nation’s largest industry groups, as chairman. Andringa, who has been Vermeer Corp. chairman since November 2015, was previously CEO and chairman for one year and president and CEO for five years. Earlier roles have included co-CEO and chief operating officer. A significant focus throughout her tenure with the company has been continuous improvement and education. In 2019 she was inducted into the Equipment Manufacturers Hall of Fame; six years earlier she received the same honor from IndustryWeek.
Read more about Mary in the Business Record's biography, which was put together to recognize her as a 2020 Women of Influence honoree.
Connect with Kristen to join the Legacy Group
Are you in search of a group of diverse thinkers who are in a similar stage to you in a family business? Look no further. Get connected to Kristen Toppin today, who will help you join the Emerging Leaders Peer Group.
P: 319-273-5784