For many founders of family firms, the decision to retire and relinquish control of the business to their offspring is difficult. Pierre Peladeau founded Quebecor Inc., a family business and a communications leader in the new economy. The present research describes the reluctance of the founder to let go of the business to his offspring and the succession process after the death of the founder. The methodology employed is a combination of case history and study of public documents. The study underscores the need to manage conflict between family members and to plan for succession for the next generation effectively.
Get full access to this article
View all access options for this article.
References
1.
Alcorn, P. (1982). Success and survival in the family-owned business . New York: McGraw-Hill.
2.
Astrachan, J.H., & Kolenko, T.A. (1994). A neglected factor explaining family business success: Human resource practices. Family Business Review , 7(3), 251-262.
3.
Barnes, L.B. (1988). Incongruent hierarchies: Daughters and younger sons as company CEOs. Family Business Review, 1(1), 9-21.
4.
Beckhard, R., & Dyer, G.W. (1983). SMR forum: Managing change in the family firm-Issues and strategies. Sloan Management Review, 24, 59-65.
5.
Berenbein, R.E. (1984). From owner to professional management: Problems in transition. Report no. 851. New York: The Conference Board, Inc.
6.
Block, I., & Hustak, A. (1997, December 26). Media magnate Pierre Peladeau mourned: Pierre Peladeau, who died on Wednesday at age 72, is remembered as a business genius that showed his fellow Quebecers that they could succeed as entrepreneurs. The Montreal Gazette, p. A1.
7.
Bourdeau, R., & Vailles, F. (1998, October 3). Importante restructuration de Communication Quebecor-Isabelle Peladeau a quitte Publicor. Les Affaires , p. 9.
8.
Chartrand, L. (1999, May 1). Peladeau 2. L'Actualite , pp. 24-30, 64-70.
9.
Chartrand, L. (1999, May 28). Chip off the old crock. Canadian Business, p. 30.
10.
Clark, C. (1995, April 25). Quebecor's future is Europe, meeting told. The Montreal Gazette, p. E4.
11.
Clark, C. (1999, July 31). Family's affairs send Peladeaus back to court: Stepmother suing stepson: Late billionaire's second wife says she was fired maliciously. The National Post, p. A4.
12.
Clark, C., & Leger, K. (1999, May 8). The Peladeau family's painful battle: Anne-Marie Peladeau went to court yesterday as part of an ongoing dispute with her brothers Erik and Pierre-Karl. She claims they are trying to control her life by controlling her money. The National Post, p. A3.
13.
Condon, B. (1999, April 19). Angry son. Forbes, 108-112.
14.
Crawford, M. (1993). Prey for the paper tiger. Canadian Business, November, 22-33.
15.
Danco, L. (1982). Beyond survival: A business owner's guide for success. Cleveland, OH: University Press.
16.
Davis, J.A. (1983). Realizing the potential of the family business . Organizational Dynamics, 12(1), 47-56.
17.
Davis, J.A., & Tagiuri, R. (1989). The influence of life-stage on father-son work relationships in family companies. Family Business Review , 2(1), 47-74.
18.
Davis, P., & Harveston, P. (1998). The influence of family on the family business succession process: A multi-generational perspective. Entrepreneurship: Theory and Practice, Spring, 31-39.
19.
Davis, S. (1968). Entrepreneurial succession. Administrative Science Quarterly, December, 403.
20.
Dumas, C. (1992). Integrating the daughter into family business management. Entrepreneurship and Theory, June, 41-55.
21.
Dyer, Jr., W.G. (1986). Cultural change in family firms: Anticipating and managing business and family transitions. San Francisco : Jossey-Bass.
22.
Fischer, E., Reuber, W., & Dyke, L. (1993). A theoretical overview and extension of research on sex, gender and entrepreneurship. Journal of Business Venturing, Winter, 151-168.
23.
Gagne, P. (1997a). Erik Peladeau-Mission: Multimedia. Forces, 115, 63.
24.
Gagne, P. (1997b). Isabelle Peladeau-A passion for the magazine . Forces, 115, 65.
25.
Gallo, M.A. (1995). Family businesses in Spain: Tracks followed and outcomes reached by those among the largest thousand. Family Business Review, 8(4), 245-254.
26.
Goldberg, S.D., & Wooldridge, B. (1993). Self-confidence and managerial autonomy: Successor characteristics critical to succession in family firms . Family Business Review, 6(1), 55-73.
27.
Handler, W.C. (1989). Managing the family firm succession process: The next generation family members' experience. Doctorial dissertation, Boston University, Boston, MA.
28.
Handler, W.C. (1990). Succession in family firms: A mutual role adjustment between entrepreneurs and next-generation family members. Entrepreneurship Theory and Practice, 15(1), 37-51.
29.
Handler, W.C. (1991). Key intergenerational relationships of next-generation family members in family firms. Journal of Small Business Management, 29(3), 21-32.
30.
Handler, W.C. (1992). The succession experience of the next generation . Family Business Review, 5(3), 283-307.
31.
Hofer, C.W. (1976). Research on strategic planning: A survey of past studies and suggestions for future efforts. Journal of Economics and Business, 261-283.
32.
Ibrahim, A.B., & Ellis, W. (1994). Family business management, concepts and practice. IowaKendall/Hunt.
33.
Ibrahim, A.B., McGuire, J., Ismail, Y., & Dumas, C. (1999). Patterns of strategy formulation in a family firm . Chicago Academy of Management Conference.
34.
Kalogerakis, G. (1999, Aug. 26). Peladeau children file another court action. The Montreal Gazette, p. A4.
35.
Kets de Vries, M.R. (1993). The dynamics of family controlled firms: The good and bad news. Organizational Dynamics, January, 59.
36.
Kuratko, D., Hornsby, J., & Montagno, R. (1993). Family business succession in Korean and U.S. firms. Journal of Small Business Management, April, 132-141.
37.
Lamey, M. (1999, February 16). Changing of guard at Quebecor: Pierre-Karl Peladeau takes the helm. The Montreal Gazette, p. D1.
38.
Lank, A.R., Owens, R., Martinez, J., Reidel, H., de Visscher, F., & Bruel, M. (1994). The state of family business in various countries around the world. The Family Business Network Newsletter, May, 3-7.
39.
Lansberg, I. (1991). The succession conspiracy. In C. Aronoff & J. Ward (Eds.), Family business sourcebook (pp. 98-119). Detroit, MI: Omnigraphics, Inc.
40.
Lansberg, I., & Astrachan, J.H. (1994). Influence of family relationships on succession planning and training: The importance of mediating factors. Family Business Review, 7(1), 39-59.
41.
Lansberg, I., Perrow, E.L., & Rogolsky, S. (1988). Family business as an emerging field. Family Business Review, 1(1), 1-8.
42.
Leger, K. (1995, April 27). Quebecor CEO stays at the helm. The Financial Post, p. 6.
43.
Leger, K. (1995, May 27). Peladeau's poker: All guts and gallQuebecor's revenues will top $5 billion this year, but that's not enough for risk-taker extraordinaire Pierre Peladeau. The Financial Post, p. 16.
44.
Leger, K. (1996, April 30). Peladeau not retiring from wealthy Quebecor . The Financial Post, p. 24.
45.
Leger, K. (1998, February 2). An empire-builder to the end. The Financial Post, p. 23.
46.
Leger, K. (1999a, February 16). Quebecor anoints No. 2 son: 37-year-old to run empire with annual sales of $8.4 billion. The Montreal Gazette, p. C1.
47.
Leger, K. (1999b, February 18). Quebecor plans cost-cutting, layoffs: Cutbacks expected in Montreal as new CEO takes over. The National Post, p. C1.
48.
Levinson, H. (1971). Conflicts that plague the family business. Harvard Business Review, March/April, 71-80.
49.
Macdonald, D., & Moore, L. (1997, December 4). Quebecor discusses strategy: Pierre Peladeau, multinational's president and CEO, remains in coma. The Montreal Gazette, p. C7.
50.
Macintosh, A. (1994, April 29). Pierre Peladeau to quit Quebecor next year. The Montreal Gazette, p. D1.
51.
Mayers, A. (1996, July 19). Success, controversy surrounds Peladeau: He may be an astute businessman, but his views raise eyebrows. The Toronto Star, p. E2.
52.
McGovern, S. (1997, August 13). Peladeau brothers sue for $21.5 million: Pierre-Karl, Erik go after siblings' lawyers, claiming they've sullied reputations . The Montreal Gazette, p. D6.
53.
McIlroy, A. (1994, April 30). Publishing mogul has priorities straight: Love, work and Beethoven. The Ottawa Citizen, p. B1.
54.
McKenzie, R. (1995, October 14). At Quebecor, 2nd generation Peladeau leads multimedia unit; Main project: Online edition of le Journal de Montreal . The Montreal Gazette, p. C3.
55.
Mintzberg, H., & Waters, J. (1982). Tracking strategy in an entrepreneurial firm. Academy of Management Journal, 25(3), 465-496.
56.
Molokotos, L. (1991). Managing the family business: Change and transition in family businesses. Paper presented at the annual meeting of the Family Business Network, Barcelona, Spain.
57.
Navin, T.R. (1991). Passing on the mantle: Management succession in industry. In C. Aronoff & J. Ward (Eds.), Family business sourcebook (pp. 80-93). Detroit, MI: Omnigraphics.
58.
Palmeri, C. (1990, December 10). Nietzsche's out, God's in. Forbes, 40-41.
59.
Pineau, Y. (1997, December 27). Les funerailles du fondateur deQuebecor celebrees lundi dans l'intimite. La Presse, p. A1.
60.
Poutziouris, P. (1995). The development of the family business. Proceedings of the Institute for Small Business Affairs Workshop on Family Firms. Manchester: The University of Manchester, Manchester Business School.
61.
Poutziouris, P., & Chittenden, F. (1996). Family businesses or business families. Institute for Small Business Affairs Referred Working Paper, Series No. 1, March, 127-141.
62.
Poutziouris, P., O'Sullivan, K., & Nicolescu, L. (1997). The [re]-generation of family business entrepreneurship in the Balkans. Family Business Review, 10(3), 239-260.
63.
Poutziouris, P. (2000a). Venture capital and small sized family companies: An analysis from the demand perspective. In P. Poutziouris (Ed.), Tradition or entrepreneurship in the new economy (pp. 255-282). Manchester: The University of Manchester, Manchester Business School.
64.
Poza, E.J. (1995). Global competition and the family-owned business in Latin America. Family Business Review, 8(4), 301-311.
65.
Quebecor (2001). 2000 Annual General Report.
66.
Ravensbergen, J. (1999, August 7). Peladeau's heirs fight control: Sons of late newspaper tycoon seek to oust old friend as special trustee. The Montreal Gazette, p. A4.
67.
Rioux, C. (1997). Pierre-Karl Peladeau: TheEuropean challenge. Forces, 115, 67.
68.
Rosenblatt, P.C., de Mik, L., Anderson, R.M., & Johnson, P.A. (1985). The family in business. San Francisco: Jossey-Bass.
69.
Salganicoff, M. (1990). Women in family business: Challenges and opportunities . Family Business Review, 3(2), 125-137.
70.
Seymour, K. (1993). Intergenerational relationships in the family firm: The effect on leadership succession. Family Business Review, 6(3), 263-282.
71.
Simard, F.X., & Cote, J. (1996). Pierre Peladeau. Outremont : Les Editions Quebecor.
72.
Stavrou, E. (1999). Succession in family businesses: Exploring the effects of demographic factors on offspring intentions to join and take over the business. Journal of Small Business Management, 37(3), 43-61.
73.
The Top 200 CEOs. (1995, November 1). The Financial Post, p. 74.
74.
Ward, J.I. (1987). Keeping the family business healthy. San Francisco: Jossey-Bass.
75.
Wortman, M.S. (1994). Theoretical foundations for family-owned business: A conceptual and research-based paradigm. Family Business Review, 7(1), 3-27.
76.
Yin, R.K. (1984). Case study research: Design and methods. Beverly Hills: Sage Publications.
77.
You must play to win. (1994, April 14). The Montreal Gazette, p. D1.
