Eric Allyn is one of the owners of Welch Allyn, Inc, a company founded in 1915 when Allyn's great-grandfather invented the ophthalmoscope.
Today, Welch Allyn is a 100% family-owned company,employing some 2,800 people worldwide. Welch Allyn is a recognized leader in Medical devices, producing instruments ranging from blood pressure gauges and stethoscopes to wireless cardiac monitoring equipment.
Allyn began his career at Welch Allyn in 1982, and worked in a variety of functions through the company, including US and international sales, marketing, business development, product management and executive management. He spent more than five years abroad running various businesses, with responsibilities in both Europe and Asia. He now serves on Welch Allyn's board of directors, and is chairman of the company's voting trust. He chairs the investment committee at the Allyn Foundation, serves on the board of the Gifford Foundation, is chairman of the board of Auburn Memorial Hospital, and is a board member of the Hospital Trustees of New York State. In addition, Allyn is the managing partner of several private investment funds. He is a former board member of Hand Held Products, Inc. (eventually sold to Honeywell) and Everest-VIT (eventually sold to GE).
Allyn attended Dartmouth College, and earned an MBA from University of Virginia. He lives in Skaneateles with his wife Meg O'Connell and their three daughters.
So estate planning is terribly important in a family business. It's a big if because there are real costs you pay up front if you want to continue on a next generation, a next generation. So if you're absolutely serious about staying family owned for a current generation and passing it down to kid...(Full transcript available to logged in subscribers.).
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