This article is part of our Beyond the Family Business series.
Hosted by Luke Hansen-MacDonald, a second-generation family business leader, Beyond the Family Business is one of the most thoughtful and engaging podcasts about family enterprise in Canada. In every episode, Luke goes beyond the headlines with other leaders in family businesses and family offices to explore lessons they have learned, their successes and their challenges.
In this episode, Luke sits down with Geoff Smith, former CEO of EllisDon. His story weaves us through the relationship he had with his father, how his succession story unfolded and why he ended up as the CEO of one of Canada’s largest construction and building services companies—EllisDon, which generates over $8 billion in annual revenue.
Geoff explains his decision to give his employees equity and how the structure of his business allowed it. He still believes it was the morally correct thing to do, and notes that as employees were getting wealthier, employee engagement and passion improved.
In this conversation with Luke, Geoff shares:
- The hands-on learning that made Geoff a better leader, including firing people that were a drag on the organization
- How a law degree held it’s value throughout the years, and what it signals to others in a crowded room
- The succession plan that unfolded in a manner that seems ‘moviesque’ upon reflection
- A frank exchange on personal energy, and how running a company at age of 40, is not the same as running a company at the age of 71 (Geoff’s age today)
Previous episodes of “Beyond the Family Business” on Canadian Family Offices feature K.C. Daya, Jeffrey McCain, Ian Wilson, Derrick Hunter, Pierre Somers, Ben Hertzman, Lee Bragg and Danielle Saputo.
For the full transcript of Luke’s conversation with Geoff, click here.
Disclaimer: This podcast is sponsored by BMO Private Wealth. The information provided in this podcast is for informational purposes only and does not constitute financial, investment, or professional advice. The views expressed by the host and guests are their own and do not necessarily reflect the opinions of any organization or company. Always consult with a qualified financial advisor or professional before making any investment decisions.
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