A multi-generational business – Grupo Milenio

A multi-generational business - Grupo Milenio

“eat your own food” in some companies Dog food” It’s a metaphor. One company takes this phrase more literally: Mars, which owns the world’s largest pet food business, as well as chocolate brands from M&M’s to the Milky Waywaiting for their managers to try branded products iams, Pedigree and Royal Canin before leaving their factory.

After 34 years with the group and an eight-year tenure as CEO, Grant Reid ate his share. One of Mars’ five guiding principles is quality., explains: “If it’s not good enough for me, why should it be good enough for your pet?” Caesar, reports, your favorite brand

His dedication to Mars’ corporate culture has earned him rare public praise for Grant Reid, 63, from the family that still controls the company 111 years after Frank Mars started. to sell Candy Butter from his kitchen in Washington state.

After Mars announces Reid will leave directed by John Marsa “G3” member or third generation family member who has never spoken to the press sent a statement for Financial Times Reid says that “his approach to living our Five Principles and delivering results is exemplary”. Varis added that his “humility, warmth, and availability” transformed a working relationship into a friendship.

Sister Jacqueline, who is John’s fortune (and his) Bloomberg Estimated to be more than $50,000 million (million dollars), lauded Reid As “a wonderful Mars ambassador who perfectly handles his interactions with the public”.

Public interactions were virtually unheard of on Mars at one time, inviting comparisons to fictional character Willy Wonka. Again, Reid played a pivotal role in building the fortunes of America’s third wealthiest family.It’s like making a company of 140,000 people currently owned by “G4s”, “G5s” and “G6s” a little less transparent. family fourth, fifth and sixth generation).

Announcement of his successor to Poul Weihrauch, director of Mars’ pet care divisionexpanded this trend Reveals that the group’s annual revenue has grown by more than half During Reid’s tenure as CEO, until it reached almost $45,000 million.

Other than the fact that the family receives a 10% dividend, the outside world still knows very little about Mars’ profits. and reinvests the rest, but now you know Mars sales, Coke and left most of its growth behind Consumer goods companies comparable to Mars.

Grant F. Reid, former CEO of Mars.

“If we want a better world tomorrow, we must build better companies today”

Grant F Reid
Former CEO of Mars

You also know that Grant Reid turned the generational goal of Mars development into an argument for leading his industry’s efforts to act responsibly. more sustainably, promote healthier snacking habits, reverse deforestation and clean forced labor from global supply chains. Before, Mars let its brands speak for the companyExplain, but in the age of social media “we triedto find our own voice”.

Born in Kincardine, not far from Scotland’s Grangemouth oil refinery, Reid admits he “didn’t see the need to cut greenhouse gases” until about 20 years ago.

Grant Reid had the advantage of running a company with a long-standing mission at a time when some of his colleagues were starting to talk about pursuing a goal other than profit. However, the CEO’s role is this part of the familyIt can be difficult: many of the recruits come into conflict with the clans that run other companies.

“It’s not always easy because there are clearly different perspectives in an extended family,” admits Grant Reid, but he’s also attended so many Mars weddings and funerals that “Honestly, I feel like a member of the family. “.

What John Mars calls Reid’s “healthy dissatisfaction” status quo“It was also his wish. family keep the company moving.

On his way back from his four-generation boss meeting in California, he was interviewed in New York, Grant Reid says he works for “real people”. So “when I commit on your behalf, it’s a multi-generational commitment.”

It is important that these commitments are met, “Because I’m not here, but they are,” he says. “We want to build a business that will be here for the next hundred years, not just when I’m CEO of the company.”

In this context, the goal of achieving net zero greenhouse gas emissions across the supply chain by 2050 is not that far off. “If we want a better world tomorrow, we must build better companies today”he says, “and part of that is that we’re a private company and we’ve been thinking for generations.”

Reid gave the family 18 months’ notice of their separation plans. He observed that sports idols like Muhammad Ali remained “too much in two or three fights.” and other CEO successes where companies waste time, value, and “strategic energy”, so he wanted his exit to be “best in class.”

When asked what advice he gives to Weihrauch, who took office at the end of September, he wishes he had acted faster. His successor must trust his judgment, he says: “Go and do not stop pursuing perfection.”

Reid will continue to represent Mars until the end of 2022.even in critical events such as UN General Assembly, Climate Week, COP27 and others.

He says about half of Mars’ growth under Reid is organic, driven by investment in brand building and digital capabilities. But the other half came purchases, Like kind bars and the acquisition of a veterinary services company in 2017 VACfor the value $9.1 billion

When asked how Mars can continue to sell more chocolate without exacerbating the obesity crisis, he says confectionery accounts for less than 2% of the calories humans consume. If your customers understand that chocolate should be a rare treatargues Reid, so Mars acted responsibly.

What do cats do? and since dogs are such an attractive growing job, he replies: “It’s about the relationship people have with their animals.”

Part of a leader’s job is to “import stress and export calm,” he explains. And while this executive finds a way to manage stress through exercise, he also relies on Ollie, an adopted dog who’s old enough to need food at 15.“to advanced mobility support”

Royal Dog. “They say the CEO job is a solo job,” he says. Not when you have Ollie; always listens to you.”

Financial Times Limited.  Disclaimer 2021

Financial Times Limited. Disclaimer 2021

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