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    Case Study

    Lee Kum Kee Co. Ltd (D): Governance reforms start to show rewards as the fifth generation matures

    By Denise H. Kenyon-Rouvinez and Philip Whiteley
    9 pages
    December 2019
    Order this case study
    Reference: IMD-7-2044

    Lee Kum Kee Co Ltd, producer of LKK oyster sauce and a range of food and health products, reached its 130th year in 2018. The fifth generation comprised cousins mostly in young adulthood who were beginning to assume leadership roles as owner-governers. Senior executives were non-family specialists. At the time of writing, the fourth generation were the company’s leaders, with some oversight still by their father, Lee Man Tat, but had begun the succession. Generation 4, which was a group of five siblings, as their father had bought out other family owners, had overseen huge international growth and diversification. By 2019, the group’s net worth had reached $17 billion. In the early 2000s the company’s owners had reformed governance, and begun initiatives established to create a humanitarian legacy, and plan for long-term resilience on a ‘1,000-year’ concept. Some 15 years on, this case asks whether these reforms were starting to bear fruit, what challenges await the fifth generation, and what future reforms may be needed. Tough decisions lay in wait; the inheritance of Generation 5 was substantial, but they faced difficult choices on investment and renewed entrepreneurialism.

    Learning Objective
    • This case aids an understanding of ownership as a professional discipline, and succession of as a family-owned firm grows significantly in size and complexity.
    • There are insights into how values help long-term business resilience.
    Keywords
    Strategy, Family Business, Governance, Ownership, Philanthropy, Sustainability, Family Office, Succession
    Settings
    World/global, China
    Lee Kum Kee, Consumer Goods, Food and Beverage, Consumer Goods, Food Seasoning, Healthcare
    From founding in late 19th Century to 2018
    Type
    Field Research
    Copyright
    © 2019
    Available Languages
    English
    Related material
    Video
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    This case study is part of a series
    • Lee Kum Kee Co. Ltd (A): The family recipe
    • Lee Kum Kee Co. Ltd (B): Passing down the recipe
    • Lee Kum Kee Co. Ltd (C): A recipe for shared values
    • Lee Kum Kee Co. Ltd (D): Governance reforms start to show rewards as the fifth generation matures
    • Lee Kum Kee’s five generations of growth (Abridged)
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    This case study is part of a series
    • Lee Kum Kee Co. Ltd (A): The family recipe
    • Lee Kum Kee Co. Ltd (B): Passing down the recipe
    • Lee Kum Kee Co. Ltd (C): A recipe for shared values
    • Lee Kum Kee Co. Ltd (D): Governance reforms start to show rewards as the fifth generation matures
    • Lee Kum Kee’s five generations of growth (Abridged)
    Discover our latest research
    IMD's faculty and research teams publish articles, case studies, books and reports on a wide range of topics
    All case studies
    Lee Kum Kee Co. Ltd (A): The family recipe
    By John L. Ward and Colleen Lief
    Case reference: IMD-3-1617 ©2005
    Summary
    This two-part case series starts with the accidental discovery of an important condiment in Chinese cuisine in 1888. The company, Lee Kum Kee Ltd.,...
    Read more
    Reference IMD-3-1617
    Copyright ©2005
    Copyright owner IMD Copyright
    Organization Lee Kum Kee
    Industry Consumer Goods, Food Seasoning;Consumer Goods, Food and Beverage
    Available Languages English
    Contact

    Research Information & Knowledge Hub for additional information on IMD publications

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    Lee Kum Kee’s five generations of growth (Abridged)

    This Overview case summarizes the story and development of the LKK food and health products company, from its origins as a small provider of oyster...

    Strategy Family Business
    By Denise H. Kenyon-Rouvinez and Philip Whiteley
    Case reference: IMD-7-2045, © 2019
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    Case Study
    Lee Kum Kee Co. Ltd (D): Governance reforms start to show rewards as the fifth generation matures

    Lee Kum Kee Co Ltd, producer of LKK oyster sauce and a range of food and health products, reached its 130th year in 2018. The fifth generation comp...

    Strategy Family Business
    By Denise H. Kenyon-Rouvinez and Philip Whiteley
    Case reference: IMD-7-2044, © 2019
    Read more
    Case Study
    Lee Kum Kee Co. Ltd (B): Passing down the recipe

    The B-case of this two-part series examines the 5th generation’s interest in and engagement with the company and prospects for the future of family...

    Strategy Family Business
    By John L. Ward and Colleen Lief
    Case reference: IMD-3-1618, © 2005
    Read more
    Lee Kum Kee Co. Ltd (B): Passing down the recipe
    By John L. Ward and Colleen Lief
    Case reference: IMD-3-1618 ©2005
    Summary
    The B-case of this two-part series examines the 5th generation’s interest in and engagement with the company and prospects for the future of family...
    Read more
    Reference IMD-3-1618
    Copyright ©2005
    Copyright owner IMD Copyright
    Organization Lee Kum Kee
    Industry Consumer Goods, Food Seasoning;Consumer Goods, Food and Beverage
    Available Languages English
    Contact

    Research Information & Knowledge Hub for additional information on IMD publications

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    Lee Kum Kee’s five generations of growth (Abridged)

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    By Denise H. Kenyon-Rouvinez and Philip Whiteley
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    Lee Kum Kee Co. Ltd (D): Governance reforms start to show rewards as the fifth generation matures

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    Strategy Family Business
    By Denise H. Kenyon-Rouvinez and Philip Whiteley
    Case reference: IMD-7-2044, © 2019
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    Strategy Family Business
    By Joachim Schwass, Anne-Catrin Glemser and Martin Králik
    Case reference: IMD-3-1623, © 2014
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    This two-part case series starts with the accidental discovery of an important condiment in Chinese cuisine in 1888. The company, Lee Kum Kee Ltd.,...

    Strategy Family Business
    By John L. Ward and Colleen Lief
    Case reference: IMD-3-1617, © 2005
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    The case provides an overview of Lee Kum Kee’s development as a family business in the past ten years, i.e. since the 2002 inauguration of a Family...
    Read more
    Reference IMD-3-1623
    Copyright ©2014
    Copyright owner IMD Copyright
    Organization Lee Kum Kee
    Industry Healthcare;Consumer Goods, Food Seasoning;Consumer Goods, Food and Beverage
    Available Languages English
    Contact

    Research Information & Knowledge Hub for additional information on IMD publications

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    This Overview case summarizes the story and development of the LKK food and health products company, from its origins as a small provider of oyster...

    Strategy Family Business
    By Denise H. Kenyon-Rouvinez and Philip Whiteley
    Case reference: IMD-7-2045, © 2019
    Read more
    Case Study
    Lee Kum Kee Co. Ltd (D): Governance reforms start to show rewards as the fifth generation matures

    Lee Kum Kee Co Ltd, producer of LKK oyster sauce and a range of food and health products, reached its 130th year in 2018. The fifth generation comp...

    Strategy Family Business
    By Denise H. Kenyon-Rouvinez and Philip Whiteley
    Case reference: IMD-7-2044, © 2019
    Read more
    Case Study
    Lee Kum Kee Co. Ltd (A): The family recipe

    This two-part case series starts with the accidental discovery of an important condiment in Chinese cuisine in 1888. The company, Lee Kum Kee Ltd.,...

    Strategy Family Business
    By John L. Ward and Colleen Lief
    Case reference: IMD-3-1617, © 2005
    Read more
    Case Study
    Lee Kum Kee Co. Ltd (B): Passing down the recipe

    The B-case of this two-part series examines the 5th generation’s interest in and engagement with the company and prospects for the future of family...

    Strategy Family Business
    By John L. Ward and Colleen Lief
    Case reference: IMD-3-1618, © 2005
    Read more
    Lee Kum Kee Co. Ltd (D): Governance reforms start to show rewards as the fifth generation matures
    By Denise H. Kenyon-Rouvinez and Philip Whiteley
    Case reference: IMD-7-2044 ©2019
    Summary
    Lee Kum Kee Co Ltd, producer of LKK oyster sauce and a range of food and health products, reached its 130th year in 2018. The fifth generation comp...
    Read more
    Reference IMD-7-2044
    Copyright ©2019
    Copyright owner IMD Copyright
    Organization Lee Kum Kee
    Industry Consumer Goods, Food and Beverage;Consumer Goods, Food Seasoning;Healthcare
    Available Languages English
    Contact

    Research Information & Knowledge Hub for additional information on IMD publications

    Related topics
    Strategy
    Family Business
    Browse all topics
    Related content
    Case Study
    Lee Kum Kee’s five generations of growth (Abridged)

    This Overview case summarizes the story and development of the LKK food and health products company, from its origins as a small provider of oyster...

    Strategy Family Business
    By Denise H. Kenyon-Rouvinez and Philip Whiteley
    Case reference: IMD-7-2045, © 2019
    Read more
    Case Study
    Lee Kum Kee Co. Ltd (C): A recipe for shared values

    The case provides an overview of Lee Kum Kee’s development as a family business in the past ten years, i.e. since the 2002 inauguration of a Family...

    Strategy Family Business
    By Joachim Schwass, Anne-Catrin Glemser and Martin Králik
    Case reference: IMD-3-1623, © 2014
    Read more
    Case Study
    Lee Kum Kee Co. Ltd (A): The family recipe

    This two-part case series starts with the accidental discovery of an important condiment in Chinese cuisine in 1888. The company, Lee Kum Kee Ltd.,...

    Strategy Family Business
    By John L. Ward and Colleen Lief
    Case reference: IMD-3-1617, © 2005
    Read more
    Case Study
    Lee Kum Kee Co. Ltd (B): Passing down the recipe

    The B-case of this two-part series examines the 5th generation’s interest in and engagement with the company and prospects for the future of family...

    Strategy Family Business
    By John L. Ward and Colleen Lief
    Case reference: IMD-3-1618, © 2005
    Read more
    Lee Kum Kee’s five generations of growth (Abridged)
    By Denise H. Kenyon-Rouvinez and Philip Whiteley
    Case reference: IMD-7-2045 ©2019
    Summary
    This Overview case summarizes the story and development of the LKK food and health products company, from its origins as a small provider of oyster...
    Read more
    Reference IMD-7-2045
    Copyright ©2019
    Copyright owner IMD Copyright
    Organization Lee Kum Kee
    Industry Consumer Goods, Food and Beverage;Consumer Goods, Food Seasoning;Healthcare
    Available Languages English
    Contact

    Research Information & Knowledge Hub for additional information on IMD publications

    Related topics
    Strategy
    Family Business
    Browse all topics
    Related content
    Case Study
    Lee Kum Kee Co. Ltd (D): Governance reforms start to show rewards as the fifth generation matures

    Lee Kum Kee Co Ltd, producer of LKK oyster sauce and a range of food and health products, reached its 130th year in 2018. The fifth generation comp...

    Strategy Family Business
    By Denise H. Kenyon-Rouvinez and Philip Whiteley
    Case reference: IMD-7-2044, © 2019
    Read more
    Case Study
    Lee Kum Kee Co. Ltd (C): A recipe for shared values

    The case provides an overview of Lee Kum Kee’s development as a family business in the past ten years, i.e. since the 2002 inauguration of a Family...

    Strategy Family Business
    By Joachim Schwass, Anne-Catrin Glemser and Martin Králik
    Case reference: IMD-3-1623, © 2014
    Read more
    Case Study
    Lee Kum Kee Co. Ltd (A): The family recipe

    This two-part case series starts with the accidental discovery of an important condiment in Chinese cuisine in 1888. The company, Lee Kum Kee Ltd.,...

    Strategy Family Business
    By John L. Ward and Colleen Lief
    Case reference: IMD-3-1617, © 2005
    Read more
    Case Study
    Lee Kum Kee Co. Ltd (B): Passing down the recipe

    The B-case of this two-part series examines the 5th generation’s interest in and engagement with the company and prospects for the future of family...

    Strategy Family Business
    By John L. Ward and Colleen Lief
    Case reference: IMD-3-1618, © 2005
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    Organization Daikin Industries
    Industry Consumer Goods, Home Appliances
    Available Languages English
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