Local Leaders

Date: July 16, 2015

Name: Succession Planning – Staying connected with the family business

Presenter: Tina Lee

A good succession planning will drive business forward. In addition, succession planning can help leaders to identify and fill key business leadership positions. Local Leaders event, hosted by Small Business BC, invites Tina Lee, the CEO of T&T Supermarket, to share her business journey with T&T Supermarket. This presentation will inspire many leaders to understand how the value of family business can optimize in the future of corporation. Moreover, Tina Lee will share her experience to overcome challenges of developing current T&T Supermarket customer base.

Tina Lee is the CEO of T&T Supermarket. She also received honours in BBA from University of Western Ontario and also completed her MBA from the Anderson School of Business at University of Los Angeles. Tina Lee was a Strategy Consultant at Deloitte Consulting. When she moved back to Canada, she started in T&T Supermarket as the Chief Strategy Officer that oversees the eastern region operation. Her passion to bring the best asian fresh into Canadian market has inspired her to advanced in her current role. Furthermore, she manages to increase up to 5000 employees in the operation of T&T Supermarket.

Before accepting the CEO role, Tina Lee understands her path in Deloitte Consulting will bring her bright career, but it can also easily replaceable. Lee moves back to her family business of T&T Supermarket because she believes her mother, Cindy Lee, the founder of T&T Supermarket, has given her the platform to create wealth. The decision is tough, but Lee believes it is a chance to build family equity.

“Be brave enough to give away the golden handcuff”

Lee shares her experience in the succession plan involves 3 major components.

Component #1: Love & passion

Lee believes she needs to learn to love the family business. Lee understands the vision behind the T&T supermarket and she evolves her passion towards that vision. Lee needs to learn to love her employees. T&T Supermarket is a platform that provides opportunity to new immigrants. People appreciate it and T&T appreciate them.

The most important lesson she learns is to learn to love her mother and herself. When Loblaw company decided to acquire T&T supermarket in 2009, it was a difficult choice for Lee. Her mother disagreed Lee to continue her career. Her mother knew the hardship of flying from Ontario to Vancouver can be tough for Lee. However, Lee wanted to lift the pressure from her. She finally compromised her mother’s decision to sell the business, but she felt emptiness in her. However, Loblaw company chose Lee to become the CEO after acquisition. Lee persuaded her mother for this role because nobody cares about the business more than her. Lee could not leave the organization because she already fell in love with the family business.

Component #2: An earth with two suns

When her mother steps down the executive position and retired, the company now has two different leaders, which can potentially be distractive for employees. In order to resolve this issue, her mother and Lee agree to complete 3 important tasks The first task is to allow her mother to list 5 points that she thinks it is significant to pass over to Lee. Lee uses this opportunity to learn and give her mother the chance to say everything she needs to say before her retirement. Her mother announces to all employees to appoint any future events to Lee.

The second task is to allow her mother to provide advice but not too upset. Both Lee and her mother have the same vision, but the road can be different. The third task is to allow her mother to give positive support to the management.

Lee respects her mother at work since she is the one who created the T&T Supermarket. In addition, Lee suggests leaders to learn to admit when they are wrong because everyone is learning. When mistakes happen, Lee admits the mistake to show her mother that she is learning. Her mother will build confidence in Lee. Lastly, Lee lets her mother do the final decision until the transitional phase is complete.

Component #3: Phoenix takes flight

Lee describes the succession plan is like a pass from mother to daughter. In Asian culture, phoenix is a god figure that takes the sacrifice. Lee calls the succession plan as “Phoenix”. Lee recruits new Chief Operating Officer and Chief Finance Officer. Moreover, she believes she needs to build the right team, the right culture and the right structure.

Lee believes the culture of T&T Supermarket builds up from these 3 phases and she does not want the business to fade away the foundation that makes up the culture.

• I choose you
• I believe you
• I trust you

In order to frame the right strategy, during the succession planning, Lee takes the whole executive team to Phoenix Arizona for offset. The trip helps the team to build self awareness, introduce new vision, implement new framework and improve new value evaluation. Lee emphasizes the right corporate culture is important to T&T Supermarket.

Lee indicates she needs to drop the bad and keep the goods. She terminates the top down hierarchy model and implements the empowerment structure. Lee encourages staff to develop innovation because she believes constant innovation is the future. Moreover, she resolves the issue of pointing fingers by giving new level of authorization to the team.

Questions and answers

Lee’s mother wants to fade away her existence in T&T Supermarket. She illustrates the phase as “becoming the moon instead of the sun”. She is currently enjoying the retirement because it is her next goal of life.

Lee suggests all women leaders not to limit themselves in leadership. Lee wants them to always concern with the customer by understanding their needs. By meeting their needs, leaders can continue learning. Leaders can learn from their bosses and help others succeed. When others succeed, leaders will succeed. It is important for leaders to always think about win-win situation.

Traditionally, many women leaders are not confident in their opinions. Lee recommends all women leaders to learn how to talk with more confidence. Never drag when communicating with people. Leaders need to speak up and ask for more.

Many leaders, especially male leaders, have difficulty to swallow pride. It is important to give their boss the idea that they are still learning; otherwise, it will be difficult to go up the ladder.

Lee explains T&T Supermarket has established 4 areas of potential customer base.

1. First generation of East Asians
2. Second generation
3. South east Asian
4. Asian Cuisine

T&T Supermarket will keep on improve to breakthrough the language barrier in the current market. By engaging more online platform, such as social media, it will bring more energy to the business.