Chris Herschend- Third-Generation Shareholder and Chairman of Herschend Enterprises [The Business of Family Podcast]

www.businessoffamily.net

Chris Herschend is a third-generation shareholder and Chairman of Herschend Enterprises. HFE properties span 26 locations and 10 states, employing over 10,000 people who collectively host over 13 million guests annually at properties including Silver Dollar City, Dollywood and the world-famous Harlem Globetrotters.

Key Takeaways:

  • HFE has 54 family shareholders across ~20 households, none of whom work operationally in the business.
  • Humility and Accountability define the principle behind the business model of a majority independent board for their family-owned company.
  • One of the hardest things you have to do as a larger family is to define 'Family'
  • Chris emphasises to his kids that their job is to steward the family business
  • The primary role of your board members is not to be experts in your business, they are there to be a resource, a check, and for protection.

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