Successful Generations

  Eric Allyn grew up in a family with a legacy of entrepreneurship and innovation. His great-grandfather, William Noah Allyn and Francis A. Welch invented the ophthalmoscope in 1915. Countless other Welch Allyn medical devices have followed since then. Look around your physician’s office on your next visit and without a doubt you will see the Welch Allyn name.     As a member of the fourth generation of his family’s business, Eric dreamt of following in his granddad and dad’s footsteps to lead Welch Allyn. This changed around 2000, when Eric, his siblings and cousins began regularly meeting as a generation to address tensions between their parents that were threatening the business. The result of their work was a radically new governance structure that eliminated family dynamics from the business altogether. It removed power from the third generation and put a new board in charge of hiring a CEO. It was a personal sacrifice for Eric, but ultimately it was the best decision for Welch Allyn.   In this episode,