Business, with a Twist

After 50 years of experience working in and alongside family businesses, Asper School and UM alumni Rod Senft [BComm/67, LLB/70] is still learning about them.

At the Asper School of Business’ Rod Senft Family Business Conference, taking place November 26, the Chairman of the private equity firm Tricor Pacific Capital explained it as “Business with a twist.”

The twist being the emotional dimension of family—complex family relationships, power dynamics, and of course, the issue of succession. Like our own families, they can be extraordinarily strong and extraordinarily vulnerable in the same moment.

And yet, partially because of this paradox, Senft said, “Family businesses are so much the backbone of every economy.”

This is exactly why he pledged his support for the Rod Senft Family Business Conference; to offer family enterprises a place where they can explore the ideas that allow them to lead with their best foot forward for future generations. To use the parlance of comic books: “With great power, comes great responsibility.”

The conference had a record turnout of over 200 businesspeople, many of whom were Asper alumni currently working in a family enterprise.

The Dean’s advisory board on family business—consisting of Rick Duha [BComm(Hons.)/82], Mark Dufresne [BComm(Hons)/88], and Grant Cockshott—designed the conference. Their precision, experience and expertise allowed the conference to be highly memorable, leaving a meaningful impact on attendees.

(L-R) Rick Duha, Rod Senft, Dr. Bruno Silvestre, Grant Cockshott, Mark Dufresne

Dean of the Asper School of Business, Dr. Bruno Silvestre, drove many of the discussions of the day when he shared statistics from a recent survey of current Asper students who come from a family business background.

“66% of the students from family business backgrounds indicated that they are interested in being involved in the family enterprise, and that carrying on the family business legacy is important to them personally. But only 24% of them are actually involved.”

The two top reasons for the gap: lack of clarity about their role, and concerns about family conflicts.

“They can all be battled with one weapon: communication.” he said.

The theme of communication was one that came up again and again throughout the day. Steve Beauchesne, CEO of Family Enterprise Canada, shared more enlightening statistics for the room; Chad Friesen, CEO of Friesens Corporation, gave a new perspective on Employee-Owned Trusts; and Joy Nott, Partner at KPMG’s National Tax, Trade and Customs practice shared in-depth insights about tariffs and what it means for Canadian business.

Keynote Speaker Dan Hursh – 6th Generation Richardson Family

In a fireside chat with Asper alum Rick Duha, Dan Hursh, Chairman of James Richardson & Sons, Limited (JSRL) shared insights, stories, and historical tidbits as a 6th generation (G6) member of the Richardson family.

Headquartered in Winnipeg, JSRL is a family-owned and operated Canadian corporation involved in the international grain trade and agri-food business, and it has been passed down from generation to generation for an astounding 168 years.

Dan Hursh (right) during the fireside chat with Rick Duha

True to the theme of the day, those 168 years of business were not always smooth-sailing. In 1939, their president, James Armstrong Richardson, unexpectedly passed away from a heart attack.

“The men that formed the executive team were sitting around, trying to figure out, who’s going to lead this business?”

But the next day, his widow, Murial Richardson, gave the company instant reinvention and innovation, even at an intensely personal, emotional moment.

“In what can only be described as a mid-20th-centrury ‘hold my beer’ moment, Muriel walked in and told the senior executives, ‘I’m going to be the next president of James Richardson & Sons Limited’”
At the time, it was unheard of for a woman to lead a Canadian Business of this size. She did it for the next 27 years.

As much as they’ve reinvented themselves over the years, part of the reason for their longevity is the simplicity in their mission: to be a company that people can trust.

The key word is trust—a timeless, universal concept. “It’s so embedded within us as humans. We know what it is. You know what it takes to inspire trust and earn trust. And you know how quickly you can lose trust,” said Hursh.

Surely, things might get a touch more complicated for their family soon. There are 29 G6s in Dan’s generation. For G7, as it is right now, he said: “There’s over 35 of them, and the eldest is 11.”

However, Hursh has seen the way that his generation was treated. He knows that because of the family’s ongoing tradition of inviting the next generation to the table, having respect for their questions and ideas, and the always-compassionate mentorship of the older generation, the succession is nothing to be worried about.

“Of all the things that keep me up at night, this isn’t one of them,” said Hursh.
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A photo gallery, as well as recordings of the 2025 Rod Senft Family Business Conference sessions are now available.

Brett Maclaren