Episode Transcript
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Speaker 1 (00:00):
We last caught up with our next guest on the
country when he was representing US in Brisbane for the
ANGUS World Forum back in May. He's joining us again
today to talk farm succession. His name is Kendall Langston
grew up on the family farm in South Canterbury. He's
the chair of Rayner Irrigation, vice president of Angus n
Z and a partner and strategic advisor at a leading
(00:23):
advisory firm, Pivot and Pace. Kendall, You've mented lots of
people on farm succession, but it got a bit personal
for you when your mom passed away recently.
Speaker 2 (00:36):
Yeah. Look, well, I guess like all farming families, our farm,
we've had the land and the family for one hundred
and ten years and you know, as Rabobank outlined, we're
one of many that's going through and about to go
through it on the land. Very hard to navigate the
(00:59):
co city of it without some help, That's what I think.
Speaker 1 (01:03):
Okay, you've written an interesting column on it, which we're
putting up on our website. You say succession in a
family business isn't a transaction. It's a test of leadership,
patients and values. And earlier in the week, I caught
up with a dynamic young woman by the name of
Bridey ver Bickis, and she won the Emerging Leaders Award
(01:23):
at the PIN Summit, and her family is going through
farm succession and what they're doing or what they did
to make it work was got an independent arbiter effectively
in and they sat around the kitchen table and thrashed
it out. Is that a good idea?
Speaker 2 (01:38):
I look, definitely, I think you know the learnings from
having supported the facilitation of this and then having gone
through it yourself. You've got to start the conversation. And
it takes a long time. I mean, it was a
good well over ten years for us and it evolved.
So it's definitely a process and a journey, and you
(02:01):
do need good, good advice and support to help you
navigate some of the get the emotional hat or the
personal hat versus the collective family hat on.
Speaker 1 (02:11):
I think one of the best comments I heard around
what Rabobank was saying when they released their white paper
or whatever they've called it this week. Equal is not
equitable necessarily, definitely.
Speaker 2 (02:25):
And look, I only have one other sibling, my brother,
who's remained on the farm. But you know, beef and
rolling hill country in southern Canterbury. You know it can't
be equal. You know, there's complexity. You've got to set
it up for the future, and you're also trying to
balance some of those things like, you know, my mother's
(02:47):
wishes versus you know, our own personal endeavors, our families.
You know, when you're throwing spouses and kids and things,
so it gets complex really quickly. And then when you
throw in a challenge like an illness which my mother had,
and then you take on the power of attorney as well,
it gets further complicated. You get conflicted, so you need
(03:10):
help through this.
Speaker 1 (03:11):
Kendall Langston, thanks for some of your time. Just put
on your vice president's hat very quickly for ANGUS New Zealand.
You must be wrapped with the record prices being paid
for balls beef balls.
Speaker 2 (03:22):
Oh look, it's absolutely stoked. You know, it's really it
just shows your confidence in the beef industry at the moment.
And obviously our breeders they work hard, they're at the
top of your game, and you know as a breed
society where we're working hard to enable that with good marketing,
good communications, good services. So yeah, I absolutely staked. I
(03:46):
think it's indicative of confidence in the farming industry and
people investing in their beef herds and in their future
genetics for their businesses.
Speaker 1 (03:57):
Well, some people have certainly but up when it comes
to bulls. What do we get over one hundred and
sixty grand? Great money for a black beauty one of
those angus bulls. Kendall Langston, thanks for some of your
time today on farm succession.
Speaker 2 (04:11):
No worries. Thanks Jamie