Rav-Bariach CEO Discusses Family Business Legacy and Succession
Shmuel Dornstein, CEO and owner of the Rav-Bariach Group, shared insights into managing a large family business alongside his daughter Maya Dornstein-Yatir, the company's marketing VP, at a Globes conference on family businesses. Dornstein emphasized his dual role as a father and a business mentor, stating he guides his children and company executives with equal dedication.
Rav-Bariach, which Dornstein acquired in 2008 when it produced only steel doors, has since grown into a company with 13 factories, 250 products, and is publicly traded. Dornstein, who previously worked in his father's candy business, acquired Rav-Bariach because of its strong brand and family-oriented history. He believes in the strength of family businesses, defining them as places where all employees feel at home. He stressed the importance of maintaining core values such as modesty, hard work, and respect, which he attributes to his own upbringing and aims to pass on to his children.
Maya Dornstein-Yatir acknowledged the unique pressures of being a second-generation leader, noting the constant need to prove herself. She expressed her choice to work in the family business, finding it challenging and a place to fulfill her potential. Shmuel Dornstein expressed pride in his daughter's capabilities, suggesting she may be more adept than he is and that seeing her succeed is more rewarding than his own achievements.
Regarding succession, Dornstein admitted he has not yet finalized plans for transferring leadership, considering options like appointing a professional manager or a family member. He indicated that the decision will ultimately depend on his children's willingness and readiness in the coming years. Maya added that the business culture allows for individual choice, without the expectation that the next generation must automatically take over.
Both father and daughter confirmed that business discussions often occur during family gatherings, like Friday dinners, though Dornstein's wife sometimes intervenes to keep work talk separate. They also touched upon the broader context of family businesses in Israel preparing for potential inheritance tax legislation.
