Sue – a story of a corporate David versus Goliath ….

Sep 4, 2020

Sue started to become uncomfortable with Peter and Thando’s approach around 4 years ago. She raised her concerns at various meetings and eventually things became acrimonious in the boardroom. That is when Peter and Thando removed Sue as a director....

Sue – a story of a corporate David versus Goliath ….

September 04, 2020

“Unfortunately, many people face what Sue did, and that contributes to the astronomical rates of business failure. The only way to change this is to work together towards an environment where creditable information is readily available and advice within reach.”

Meet Sue, she owns 20% of a company with her two partners – Peter and Thando.  They started the business of buying and renting properties around 10 years ago.

At first, they purchased low cost properties infrequently.  However, over time the company started to show a profit and their investments became increasingly significant. More expensive properties were purchased and often these were renovated and sold on. Some with a much larger return and others with no return at all.

Sue started to become uncomfortable with Peter and Thando’s approach around 4 years ago. She raised her concerns at various meetings and eventually things became acrimonious in the boardroom. That is when Peter and Thando removed Sue as a director.

Sue was absolutely distraught at her removal as a director so she decided to offer her shares, but neither Peter or Thando wanted to buy her out. So, now Sue is stuck and has no say in how her investment is being applied. She is now having to sue to secure and enforce her rights.

Unfortunately, many people face what Sue did, and that contributes to the astronomical rates of business failure. The only way to change this is to work together towards an environment where creditable information is readily available and advice within reach. I am committed to a movement to achieve this.

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It is indeed a complex situation, but let’s add another layer of complexity, one that we rarely hear ventilated until we are in a courtroom. What happens when a woman is the leader instead of a man? Perhaps, let me put it bluntly, it is when a woman employs her husband, partner, father, or brother.

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Nicolene
Share via:

You might
also like…

Pushing Boundaries or Breaking Bonds?

Pushing Boundaries or Breaking Bonds?

In South Africa, many businesses are family-owned and operated, with ownership often passing from one generation to the next along the male line. Traditionally, this means that many women support their fathers, brothers, and spouses in the business. Although this sounds familiar or even “as things should be” situation, managing a family business involves navigating complex personal and professional relationships. Be that as it may, family businesses are more than that – they are central to the reality of many families. It is not just another business; it goes to the very core of financial prosperity and home dynamics.

It is indeed a complex situation, but let’s add another layer of complexity, one that we rarely hear ventilated until we are in a courtroom. What happens when a woman is the leader instead of a man? Perhaps, let me put it bluntly, it is when a woman employs her husband, partner, father, or brother.

The issues this brings is a shared responsibility to address, it refers to how we raise our children and support our friends and families that find themselves in the grips of this reality. If we get this right, this will not only benefit the women at the helm but also strengthen the family business sector and the family unit as a whole.

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