b'KENNARDS HIRE Since 1948TAKING HIRE HIGHER | 100THE VIEW FROM OUTSIDEThe Kennards Hire board is a separate entity andGordon Howlett similarly had a strong corporate independent of the family. It comprises members ofbackground before coming on to the Kennards Hire the executive team, non-executive directors and aBoard. In corporate life in Australia, youre used to non-executive chairman. At least one and no more thanhaving a time horizon of one year, he says, referencing two family members sit on the board as a non-executivethe need to justify business decisions to shareholders directors at any one time.annually. One of the beauties of the family companyis that they are thinking longer term; they are thinking AWARDSWorking for a family-owned business as an outsiderof sustainability.does not come without its challenges. There can be resistance to change, difficulty navigating familyThe most rewarding thing is being able to work on dynamics, limited autonomy and potential for conflict.large company corporate-style initiatives, but still feel However, those who have been brave enough to acceptlike a small family business that keeps things simple with the challenge at Kennards Hire and stick it out for theno red tape, Jihad Farah, the companys CFO, says. He long term have found that the benefits outweigh anyappreciates the direct contact and access he has to the drawbacks. owners of the company. We have a very special and respectful dynamic with them.When Peter Lancken came on board as the first non-family CEO, he knew that he would be steppingBoth Gordon and Peter thought that Kennards Hire into a legacy not just of financial success but also ofcould be far more adventurous in their borrowings, but emotional ties to a business that was being handedAndy resisted. We were always happy to make a quid down through the generations. Coming from a largefrom opportunities, and as long as we had the resources multinational company, naturally Peter was curiouswe would go and do it, but we were always very about what the future plans were for growing Kennardsconservatively geared, he says. Hire. Andys starter instructions to me were that he saw the company as an intergenerational asset of theThey must be doing something right, according tofamily, Peter says. He made it clear that there wouldAlan Kohler, editor-in-chief of Eureka Report. Notbe no selling it, floating it, or anything like that. He feltonly do the Kennards provide a great example ofthat strongly about the companythe brand has gothow to successfully deal with succession, they are alsohis name on it. For me in terms of knowing that, that ita wonderful case study in family business governance,wasnt part of the agenda, made things easy. he wrote. One of the beauties of the family company is that they are thinking longer term; they are thinking of sustainability.'