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On the Move... INTO ITS 105th YEAR I
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n 1917, a family business was born as American bankers were introduced to an innovative new way to organise old records. Income tax had been enacted by Congress several years earlier and, therefore, careful record-keeping had become an important new requirement for banks. Harry Fellowes named his business the Bankers Box Company because bankers were his target market, and a box was his product. He chose ‘Liberty’ as his brand in celebration of freedom and the fresh opportunity for prosperity brought about by the end of World War I. The product was a novel idea: a box made of a new material – corrugated fibreboard – which held 24 inches of sequential, like-sized records, protected with a secure string and button closure. For over 100 years, the Fellowes family has built its global business around the theme of innovation. Its markets have changed dramatically over time, but the company challenges itself to remain relevant and continuously think more expansively. It has successfully expanded its product range and geographic frontiers through four generations of family leadership. OPI recently
caught up with Harry Fellowes’ great-grandson, fourth-generation John Fellowes, who became President and CEO in July 2014.
OPI: Going back to the early days, what would Harry think of what his business has become? John Fellowes: Good question. I think he would be pleased by our expansion of the busines but, based on what I have learned about him, I believe he would be even more interested in our culture. He was a principle-driven entrepreneur with a keen sense of business ethics. As such, the preservation of his values like hard work, business integrity and entrepreneurial leadership would really matter to him. As would our continuing commitment to innovation. OPI: How has Fellowes maintained these values through four generations? JF: The simple answer is that each succeeding generation of family leadership has ‘grown up’ in the business before running it and experienced first-hand its founding principles. Fuelled by these formative experiences, every generation has naturally embraced the values and practices grounded in the beginning.
