Premium Essay

Global Leadership

In: Business and Management

Submitted By Vivichris83
Words 1944
Pages 8
Case 5:
The Vega Food Company
Case 5:
The Vega Food Company

Professor Jorge Poza
Professor Jorge Poza

Sandra Echavarría A00142705
Sandra Maycotte A00188265
Vivian Espinosa A00268032
Sandra Echavarría A00142705
Sandra Maycotte A00188265
Vivian Espinosa A00268032

February 24, 2013
February 24, 2013

1. What are the key facts of this case? And, what, in your opinion led Mari to sell her shares?
Before listing the key facts, an important issue to address is the difference between the management of the company and the ownership of the company. The Vega Food Company had two types of stocks: The A voting shares that do not pay dividends (management) and the B non-voting shares that pay dividends (ownership). The problem in the case arises due to the thin line that divides both.
Key Facts:
Francisco Sr. founded Industrias La Vega, a Spanish meat-processing business that produced hams, sausages, and other delicacies for domestic and export markets. Francisco Jr., the only son of six siblings had worked closely with his father since 1976. In 1994, Francisco Jr. became president of the company when his 72-year old father was killed in an automobile accident.
Francisco Jr. is the only sibling that had worked in the family business prior to the car accident. In February 1997, only Francisco Jr. and Tere (the fourth of the daughters of the family) worked at the family company in management positions. Tere joined only three years earlier.
The ownership structure of Industrias La Vega had been updated only months before the car accident, mainly at the request of Francisco Jr., who was concerned about the possible loss of control of the enterprise he had jointly managed with his father for years. Nevertheless, there is no mention in the case that Francisco Jr., nor his sisters or mother, knew about the ownership structure that Francisco Sr. had planned with his lawyers.
After

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