I'm writing one of the most important letters I've ever written (a mile-long list of negative and positive criticisms AND good suggestions) and I don't want it wasted on a CEO or president who is "on their way out" for one reason or another. So I'm going to address it to the owner of Follett as soon as I find out their name. Can someone save me from probably a weeks worth of frustrating googling and please give me the name? Thank you.
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To answer the original question, the Follett Family owns Follett. The direct descendants of the original four brothers, Dwight, Garth, Robert, and Laddie, own all the shares of the company, not the phantom shares the family bestows on people they like or senior management staff they give them to as part of their compensation. Phantom shares have to be surrendered when you leave Follett. Only the family owns real shares of the company. What branch of the family holds controlling shares in the company is not known to anyone outside the family. The 4th and 5th generation knew the business. What is happening now is why most family owned companies in America tend to self destruct by the 5th or 6th generation of ownership. Look what happened to Schwinn Bicycle Company. Writing a letter would be useless, they seem to be doubling down on their bad decisions and they've lost their best talent and their years of experience. Good luck and turn out the lights when you leave.
Your looking to write a letter that will fall on deaf ears. Todd and Britten believe problems come from uneducated scorn employees. If your not pushing through and accepting new and daily challenges you are a part of the problem and not the solution so you don't belong here. Got rid of MLS and brought in another book cooker. There is no direction or instruction on what it where this company is going. Managers spend the day micro managing and have no clue which way is up. Questions go unanswered for days and weeks. When it explodes you must be held accountable not the manager. They own nothing!! Karma is a bitch. Their best people have walked out without any attempt to keep them. New hires for sales are gone within 10-15 days. A degree to sell and you must be an educator.. Really!! Just cause you teach it doesn't mean you can sell it!! Won't even take on employees looking to move into sales. You know both systems operation, c/s, billing and material but you don't qualify. What a slap in the face. They can talk with each other and sound like they know what they are doing. Sit with them one on one and your dealing with someone who has no clue what your saying or doing.
She handles the Follett charity nothing more nothing less
Chuck's daughter is also active at Follett.
and his bachelor's was in music theory. Very well equipped to handle the day to day of Follett's board. Let's not forget that was ALL he earned. Still, if DG is anything to emulate, it doesn't matter if you go bachelor's or Master's, stupid is as stupid does.
Todd is a family member. How active, who knows. He's probably too active. He is in his early 50's. He graduated from TCU in the early '90's and his future was certain; he was going to the family business.
Agree with Ned. Let me ask you a question, how many family members are still active in the day to day operations? How many next generation family members are working their way up the ranks to learn the business?
I've heard of these before. Might as well print it out and put it straight into the shredder.
If you're documenting things, I'd also consider a BCC to the NYT or other major journalistic outlets like the FT or even Vice.
Todd Litzinger is the Chairman of the Board of Directors. The board of directors represents the ownership of the company. The board decides on C level hires, governing policies, etc. You want to write to Todd.
Good idea and for you! Best of luck... but maybe you should consider making it a petition? As good as your idea may be... as they say "there is always more strength in numbers..." so at be getting people/associates to sign the letter along with you might send a stronger message? Just a thought... but whatever you decide I tip my hat to you :)
The company remains a privately held venture. Normally we refer to 'the family' as the primary owners. Todd Litzinger is currently the head of Follett's board and the face of the family most associated with public gatherings.