All-American Hand-Off

If Mike Satran can pass his $8.5 million Interstate Roofing on to his children, he'll have beaten the odds. Less than a third of family businesses survive to the second generation.

10 MIN READ

Looking Down The Road So what could work against this dynamic trio?

They’ve outlined their plan, but it’s not completely in writing. And they haven’t gotten to the nitty gritty of ownership transfer. Satran has formed a holding company so he’s able to slowly sell Shelley and Brad assets, with the company paying him a salary as a buy out.

But there’s also the issue of the larger-than-life leader.

“He’s still The Man, The King,” admits Shelley. “Walk into his house and he has all these dead animals and big Marine swords. But he’s always funny.”

That humor may be just what these hard chargers need to power through tough subjects, such as, what’s next?

If all goes well, in five years, Mike Satran sees Shelley as Chief Operating Officer. Brad will be an accomplished salesman. Mike will stay in charge of sales and marketing but slowly turn that over so in the next five years, he’s only CEO, then “CEO on call.”

Mike Satran recognizes outstanding achievement in the company, and Shelley Satran remembers 2003’s end-of-year banquet well. Her dad announced a new award, one that didn’t really fit into the other awards criteria.

The winner? Shelley herself, for turning around the safety program — and for something else. Recalls the future COO: “He said he was giving me the award not so much for what I had done, but because of what I will do.” —Joseph F. Schuler Jr. is a freelance writer who specializes in the remodeling industry.

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