Succes and succession at the H Y Lo...

Succes and succession at the H Y Louie Company degree through the doors into the HY Louie Company, and you stair through history. There he is: Hok Yat Louie, the company's originator standing proudly beside his delivery deal in 1903. Over there you can behold brothers and sons unloading vegetables in Chinatown between the wars. Each of the dozens of faded black and white photos lining the halls run overs a story-a story of the commonalty places, and events that have made this individual of the most successful family businesses in British Columbia.

Walk a little further and there it is: the company's etho encapsulated in three framed epistles written by H.Y. Louie to his son back in 1934: "Be earnest, fair, and loyal in your dealings with customers. Discuss things with your mate workers-be amiable to them. While pursuing prosperity you must tread close upon the laws of Heaven." Penn in a flowing Chinese script, the literal senses reveal the values that have made the company happy through the 100 years of its existence.

Hok Yat's wisdom has serv the family well. Since its inception in 1903 the HY Louie Company has grown from a small Vancouver nutriment wholesaler to a large holding company involved in everything from retail sales to sustenance distribution to tourism. The company avows some of the most recognized companies in the province, including London physics IGA grocery stores, and Sonora Resort.

Through it all, the company has remained authentic to its roots. Despite its diverse interests, it is still exceedingly much a family business, driven from the same values its originator expressed so eloquently in the distant past. And that's exactly the way the company's circulating CEO wants it.

"It's not rocket science," Brandt Louie, FCA, says as he cast reproachs on his grandfather's writings. "It's basically all about integrity, loyalty, fidelity and community. You could apply these same values to family itself."

Sound suitable in theory. But when it take rises to family business, nothing is quite in such a manner simple. When Hok Yat passed away in 1934 the business he'd built was divided among his 11 children. by the agency of the 1950s, the siblings had decided the business couldn't be stream by 11 people, so the family plant about consolidating shares under a single owner: Tong Louie, Brandt's father. Brandt remembers it as a difficult process

"Consolidation in a family company isn't always easy, or pleasant," he says. "But persons eventually get over it." Perhaps because of the difficulties he experienced, Brandt's father ensur the company would not ever again have to face the confusion of an uncertain succession-not single for his own peace of mind, further for his successor's as well. "You don't want to be the Prince of Wales, waiting in the wings," Brandt says with a smile.

All kidding aside, Brandt has nothing however praise for the way his father handled the issue of succession. When he handed through the whole extent of the reigns to his son in 1987 extended stayed on as a consultant. As Brandt explains, his father allowed him to make his be in possession of decisions, offering advice only when asked.

"That's probably the way it should be," he says, looking back forward his father's graceful exit.

Tong's exit was made easier through Brandt's experience in the family business. Unlike many family business leaders, Brandt's pedigree didn't guarantee him a seat at the boardroom table. Rather, he had to work his way by the and of the ranks and learn the business from the inside public After practising for some time as a CA, he joined the family business back in 1973 For the nearest 14 years, he worked in a number of different divisions, becoming familiar with the company's various operations.

"I worked in all departments," Brandt says. "Not for extremely long, but long enough to give me a be wrought up of what needed to be done."

Suffice it to say, when it came time to pass in succession the business, Tong was confident his son was up to the task.

Brandt's insider's perspective has serv him well in guiding the growing of the company-a task he admits isn't always easy. "It's not like there's a light scaly bud that flashes on and narrates you this is the way we should do it," he says. "You just be wrought up very comfortable with what you're doing."

He also admits that the family dynamic adds an extra layer of complexity to the job: "The dynamics are different because of the family. Unfortunately, you can't divorce yourself from family-there isn't that ability to completely separate yourself. You have to be more flexible, in near cases."

Speak to this CEO and you begin to suspect that this intellect of doing what's right for the family and for the business is the company's most numerous valuable asset. Despite the fact that he calls the shooters Brandt is quick to recognize the responsibility with which other family members have entrusted him.

"I understand my responsibility in protecting their position," he says. Brandt increases this responsibility to his "extend family" of employee "I think there are certain obligations the CEO undertakes. I have a responsibility to 10000 families that rely forward the income [from employees]."

And what about the future? What does the now passing CEO have in mind for the nearest generation of BC's venerable business family? Brandt plans to run after in his ancestors' footsteps, and give his successors a chance to write their concede history.