Since launching Saltchuk Resources in 1982 by putting together a group of investors to acquire Totem Ocean Trailer Express (TOTE), a Seattle-based shipping company, Mike Garvey built a portfolio of 22 businesses—in everything from air cargo to trucking. In addition to starting Saltchuk, Mr. Garvey is a founding partner of the law firm of Garvey, Schubert and Barer, and also has been a significant owner of several well-known local companies including Ste. Michelle Winery, K-2 and Vernell's Fine Candies. This summer Mr. Garvey received Ernst & Young's Entrepreneur Of The Year® 2013 Lifetime Achievement Award for the Pacific Northwest.
Mr. Garvey has been quoted as saying that his golden rule of company management is to operate the business in a manner that you would be proud to have your children work in. Mr. Garvey has led by example, facilitating ownership transition to his daughters and management to his sons-in-law.
During this Legacy Series, Mr. Garvey and his daughter, Denise Tabbutt, Director and shareholder, discussed succession planning and implementation, governance, as well as the challenges of running a complex family owned business.