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Rogers is not the most beloved firm in Canada, and the recent revelations about Ed Rogers’ interference in contract negotiations with Raptors’ president Masai Ujuri and his poor reputation among Toronto Blue Jays’ fans don’t help what are already horrible optics for the firm.
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The Rogers imbroglio also jeopardizes not only a $26 billion merger with Shaw Communications (another family-controlled, dual-share class telecommunications firm), but also threatens to sour an already tentative customer base - remember the 1990s negative billing scandal, when the company billed viewers automatically after giving them new channels for free for several weeks? More bad optics for Rogers The Rogers boardroom battle was resolved quickly, but the bad blood between Ed and his family will likely linger for generations to come. Though it eventually collapsed in the 1980s, Massey’s failure had much less to do with the problems of family ownership than a rapidly changing tractor market, a 1970s recession and some poor management decisions.įurthermore, most of the billionaire family feuds were also amicably settled, or at least the loser withdrew without further fallout for the company. Taylor (who developed the Toronto suburb of Don Mills and owned famed Canadian racehorse Northern Dancer), over the next half-century, Massey became an incredibly successful multinational.
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This was true of Massey-Harris (later Massey-Ferguson and still later, Varity Corp.) for at least three generations, as the firm was guided by its closely controlling patriarch, Hart, and then his sons, who gave most of their money away.Ī smart family also knows when to make a dignified exit.Īfter Vincent Massey gave up control to professional managers and eventually relinquished ownership to financier E.P. Wealthy families want to leave a legacy, which often results in generous philanthropy. On the one hand, a closely held family firm keeps the business “in house” for generations, ensuring a steady hand, a stalwart vision and values beyond the bottom line. These historic fights, and Massey’s smart decision to step away, reveal the competing dynamics of family firms.
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The two later became embroiled in a family feud on how to manage the company that was resolved in 2020. chairman Frank Stronach and his daughter Belinda, the company’s executive vice-chair, chat at the firm’s annual general meeting in 2010.
Most ended up in court, and often resulted in a family member being effectively bought out to go away - or ousted, in the case of Wallace McCain, over a succession battle - so that the family problems would no longer threaten the company itself. The brewing Molsons, the Magna car-part-making Stronachs, the potato-peeling McCains and even iconic Canadian firms like Canadian Tire (the battlin’ Billes family) or Tim Hortons (Tim Horton’s widow versus Ron Joyce) have had brutal, very public contretemps. In fact, some of Canada’s most prominent family-owned firms have had very public brawls - a few of which even make the Rogers spat seem tame in comparison. An abundance of corporate family feudsīitter family feuds and succession battles are not new to the Canadian business landscape. He may have won the messy legal battle to control the company, but the comparison between Massey and Rogers reveals important lessons that can be learned about the pitfalls - and benefits - of family-run firms in Canada. Instead, Rogers’ stubborn willingness to put his father’s company, its shareholders, its customers and its reputation at risk for a power play to assert control smacks of poor judgment and hubris. Edward Rogers attends the company’s annual general meetings in Toronto in 2019.
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