The Third Layer is crafted for family-owned business leaders who understand the intricacies of navigating a business where family and leadership intersect. Host, Marshall Lockton zeroes in on the greatest leadership lessons.
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Building Life Into Others: Ben Hutton on Teams, Clients, and Community
Thursday, April 23, 2026 • Duration 01:02:09
In this insightful episode, Ben Hutton, President of Hutton, shares his transformative journey from a twelve-year-old shop sweeper to the leader of a thriving 400-person construction and facility services company. The conversation explores the unique challenges of second-generation leadership, specifically the pressure to emulate a founder's style. Ben candidly discusses his "3 a.m. moment"—a point of burnout caused by trying to lead with his father's forceful, operational approach rather than leaning into his own strengths.
For family business leaders, this episode serves as a case study in self-awareness and organizational evolution. Ben details how he shifted from being a bottleneck to a visionary leader by identifying his "unique ability" and empowering a separate President to handle operations. The discussion dives deep into the rigorous work of discovering authentic core values, the power of storytelling to connect a dispersed workforce, and the necessity of defining success through the lens of purpose rather than just profit margins.
Key Themes
Transitioning Leadership Styles
The Power of Unique Ability
Authentic Value Discovery
Storytelling as Strategy
Community as a Stakeholder
Redefining Success
Timestamps
03:26 - Early memories of the company and longtime employees who are still with Hutton today
08:05 - Returning to Wichita and building credibility through roles in operations, project management, and business development
12:22 - Growth from 80 to 400 employees and the realization that empowering others was the key to scaling
15:08 - Ben's burnout moment at 3 a.m. and the start of a leadership transformation
23:05 - Why leading through culture takes constant communication, story-sharing, and clarity of purpose
30:08 - Distilling the company's values into four words: Lead, Inspire, Respect, Construct
34:52 - Creating the company purpose statement and defining success around team members' dreams, clients' vision, and communities' future
44:05 - Tornado response story that showed both client care and deep care for a superintendent who lost his home
54:34 - Why community is a core stakeholder and how Hutton gives back through volunteer time and donated expertise
58:51 - Ben's professional and personal legacy: building an enduring company and loving his family well
Better Today, Better Together, Better Tomorrow: CoorsTek and the Power of Shared Leadership
Thursday, April 9, 2026 • Duration 01:04:18
Jonathan Coors, Co-CEO of CoorsTek, details the evolution of a fifth-generation family enterprise that expanded from the iconic Coors brewery into a global industrial ceramics leader. Jonathan shares his personal journey from working in politics to navigating the family business, emphasizing the necessity of earning credibility through mentorship and humility. A central focus of the conversation is the family's innovative approach to succession: rather than selecting a single successor, they established an "Office of the CEO" comprising Jonathan, his brother, and his cousin.
This structure leverages their complementary strengths, fosters robust strategic debate, and mitigates potential family conflict. Jonathan also discusses the critical role of values-based leadership. Viewing the company as a "marble masterpiece" to be shaped, and the importance of authenticity when leading a global workforce of 5,000. It provides actionable insights on stewardship, the strategic advantages of taking a company private, and the discipline required to ensure family assets grow for future generations.
Key Themes:
Collaborative Governance (Office of the CEO)
Strategic Patience & Privatization
Stewardship vs. Ownership
Feedback Loops in Family Firms
Universal Values with Local Application
Timestamps:
07:46 - Why ceramics matter & how they enable modern technology
09:05 - Story of Adolf Coors & the founding of the brewery
12:33 - How Coors survived Prohibition & the role of entrepreneurship
13:03 - What drove the longevity of the Coors brand & family business
15:51 - Major growth milestones at CoorsTek, including acquisitions & global expansion
19:08 - Why CoorsTek went public briefly & then returned to private family ownership
Independent and Interdependent: Dhruv Pandit's families process to understand one another's goals and build their future.
Thursday, December 4, 2025 • Duration 54:34
Dhruv Pandit, a prominent Kenyan family business leader, offers a compelling account of his family's century-long entrepreneurial journey, rooted in his grandparents' immigration from India to East Africa. He details his father's impressive self-made success in banking, insurance, and real estate, emphasizing the founder's outgoing nature, continuous learning, and ability to connect across diverse social strata. The episode delves into the evolution of their enterprise, highlighting the strategic decision to exit the banking and insurance sectors to concentrate on real estate and formalize a family office structure. Dhruv discusses pivotal moments, including navigating strategic disagreements with his elder brother using YPO forum principles, and how the challenges of COVID-19 spurred a critical reevaluation of capital allocation and governance. The family's collaboration with "process consultants" led to the adoption of an "independent but interdependent" framework, enabling diversification and fostering next-generation entrepreneurship through a "family bank" model. Dhruv's narrative underscores the profound impact of intentional communication, cultural adaptability, and structured governance in ensuring both family unity and sustained entrepreneurial success across generations. His ultimate legacy aspiration is simply "to do right by people".
00:50 – Family immigration history and early entrepreneurial beginnings in Kenya
02:23 – Father's first business ventures in banking and real estate
Learning With No Playbook: Nike Anani's transition from building a family office in Nigeria to advising next gens on their own stories.
Thursday, November 20, 2025 • Duration 45:01
Nike, an esteemed advisor at Northern Trust and a leader within her own Nigerian family enterprise, shares profound insights into the intricate world of family businesses. Her journey began by managing her family office without a "playbook," a decade she describes as both the most meaningful and challenging of her life. Faced with "drowning in complexity," Nike spearheaded the creation of a family office, establishing a "control tower" designed around family values and vision to manage diverse businesses and investments. She emphasizes the critical need for rising generation leaders to earn trust through persuasion, consistency, and hard work, especially within elder-dominant cultures. Nike's narrative powerfully illustrates that structured governance, open communication, and the development of a strong personal identity are not just beneficial, but essential for the enduring performance and successful intergenerational transition of family enterprises. Her advisory work is driven by a purpose to enhance succession and longevity for family businesses globally, acknowledging the universal nature of these challenges across cultures.
Key Themes:
Strategic Evolution of Family Enterprises
Next Generation Leadership Development
Importance of Governance and Communication
Personal Identity and Purpose:
Cross-Cultural Relevance of Family Business Challenges:
Professionalization of Family Wealth Management
Timestamps:
00:35 – Nike's career journey and role at Northern Trust
01:49 – Family background and her father's entrepreneurial story
03:29 – Transition from medicine to entrepreneurship
04:37 – Childhood memories and realizing her father's success
Industrial Heroes: Jeff Cloud shares how IBT commits to making all stakeholders feel like family.
Thursday, November 6, 2025 • Duration 01:00:42
Jeff Cloud, President and CEO of IBT Industrial Solutions and its parent company, Cumulus Companies Inc., shares the rich history of his family's 77-year-old industrial distribution business, founded by his grandparents in 1949. Born from his grandfather's entrepreneurial spirit after a sales territory dispute, IBT's core "Yes, we can do that" mantra and sales-driven approach fueled its growth from a single shop to a multi-state enterprise with over 400 employees. Jeff discusses the intentional cultivation of a people-first culture, emphasizing respect, internal development, and exceptional customer service, evidenced by their remarkable employee longevity. His personal journey, which included time in the culinary industry before returning to IBT, highlights the value of earning respect and understanding the business from the ground up. The family's commitment to long-term stewardship led to the formation of Cumulus Companies, diversifying investments while intentionally scaling IBT's core cultural values across new acquisitions. This episode offers a compelling case study for family business leaders on nurturing legacy, fostering a resilient culture, and strategically preparing for multi-generational success.
Key Themes:
Multi-Generational Legacy and Succession Planning
Culture as a Performance Driver
Customer-Centricity and "Exceptional Engagement"
Strategic Diversification and Value Creation
Leadership Development and Humility
Timestamps:
00:41 - What IBT Industrial Solutions does and context for listeners
00:59 - Founding story, sales-first ethos, and "Yes, we can do that" mantra
08:14 - Second-generation leadership succession: Uncle Tree, then Jeff's father as CEO
09:24 - Culture under Jeff's father and extraordinary employee longevity
12:31 - Culinary school and restaurant background shaping work ethic
Building Beyond Holiday Inn: Spence Wilson Jr. on Multi-Gen Success within KWC Management
Thursday, October 23, 2025 • Duration 57:10
Spence Wilson Jr., a principal at KWC Management, a single-family office, shares the compelling journey of his family's entrepreneurial legacy, from his grandfather Kemmons Wilson's founding of Holiday Inn to the current multi-generational operation of KWC Management. The discussion highlights the importance of intentional leadership, robust family governance, and a values-driven culture in sustaining success across generations. Spence details the origins of Holiday Inn, born from a "frustrated experience," leading to innovations like standardized rooms, free stays for kids, pet care, and a nationwide reservation system. He also sheds light on the deliberate transition of the family business, which involved external consultants and a commitment from the second and third generations to stay "better together" under a shared umbrella. KWC Management now primarily focuses on hospitality funds and a collection of consumer brands, with a strategic emphasis on understanding business models and partnering with passionate and competent people. The narrative underscores that sustained performance in a family enterprise is deeply rooted in strong relationships, resilience, and a commitment to stewardship—both within the family and the wider community.
Key Themes:
Entrepreneurial Legacy and Innovation
Multi-Generational Family Business Governance
Values-Driven Investment Philosophy
Importance of Culture and Relationships
Stewardship and Community Impact
Resilience and Learning from Mistakes
Timestamps:
00:01 - Welcome & family-office focus
00:36 - Kemmons Wilson backstory
02:24 - Road-trip spark and first Holiday Inn (1952)
03:25 - Franchising with home builders and Interstate tailwind
05:26 - Standards that won travelers and Holidex reservations
Project Ernest: Brittney Ray's leadership of the E. Ritter & Company family council and the journey to re-discover purpose and values
Thursday, October 9, 2025 • Duration 54:46
Brittney Ray, the full-time Family Council Chair for E. Ritter & Company, provides a compelling look into stewarding a 136-year-old family enterprise. As a "married-in," or "outlaw" as they humorously refer to them, Brittney's journey into family leadership underscores the importance of curiosity and inclusivity in family businesses. A pivotal moment for the Ritter family came in 2019 with a significant liquidity event, which prompted an identity shift from owner-operators to owner-investors. This change spurred "Project Ernest," an 18-month initiative to revamp the family's mission, vision, and values, engaging professional consultants for broad family input. The project resulted in a renewed commitment to investing in the family, doubling the family governance budget, and shifting towards proactive, intentional planning. Brittney's role focuses on fostering family unity and engagement, developing future leaders—including a unique educational program for 8-18 year olds—and creating a culture where diverse perspectives and open dialogue are not just tolerated but celebrated, ensuring the family remains bonded beyond shared ownership.
Key Themes:
Evolution of Family Governance
Inclusive Family Definition & Engagement
Intentional Investment in Family Unity
Multi-Generational Leadership Development
Culture of Openness and Productive Dialogue
Philanthropy as a Unifier
Timestamps:
02:43 - Ritter family history, legacy, and founder's entrepreneurial roots
04:48 - Current family size and inclusive definition of family
05:39 - Married-in perspective and first family meeting, the "outlaws" term
06:56 - Liquidity event and shift of ownership to engage younger generation
09:56 - Role and mandate of the Family Council Chair
Sixth Level Leadership: Rachel Wallis Andreasson shares how Wallis Companies maintains a family feel while expanding
Thursday, September 25, 2025 • Duration 01:03:50
Rachel Wallis Andreasson, a third-generation leader of Wallis Companies, shares the compelling narrative of her family business, transformed from a single gas station in 1968 to a billion-dollar enterprise. Her father, Bill Wallis, an American entrepreneurial archetype, instilled a foundational culture built on strong work ethic, deep intuition for people, and a profound focus on employee well-being, a legacy Rachel and her siblings continue to uphold. Rachel emphasizes that despite its immense growth, Wallis Companies retains its family business feel due to its people-first culture and "leading with heart" approach.
The episode delves into Rachel's journey, from purposefully gaining external experience before joining the family business, to her pivotal role in building its HR and training infrastructure, and ultimately becoming a second-generation CEO in 2017. A key highlight is the strategic acquisition and culture integration of the Taylor family business, which Rachel navigated by prioritizing relationships, trust, and empathy for employees. The discussion also covers the family's intentional transition to a shareholder model with a non-family CEO and the establishment of a family council to educate the rising third generation on governance and communication.
Key Themes: People-First Culture as a Differentiator Intentional Leadership & Growth Strategic Succession & Governance Empathy and Trust in M&A Integration Defining and Living Legacy
Timestamps:
00:02 Introduction and Connection
00:33 Bill Wallis' Entrepreneurial Journey
03:40 Cuba Roots and Growth
06:51 Still a Family Business
09:21 Joining the Business
12:28 HR Path and People Systems
17:39 Loss and Leadership Transition
24:25 2016 Acquisition Highlights
26:59 The Sixth Level
Clearing Clutter: Kristin Keffeler shares how the rising gen can form healthy self identities and thrive.
Thursday, September 11, 2025 • Duration 56:13
Kristin Keffeler, a family wealth consultant, provides profound insights into the human side of wealth and family businesses, focusing on fostering human peak performance and thriving. While her own family story differs from multi-generational businesses—her entrepreneurial father successfully built, took public, and sold a company, creating wealth—her personal journey profoundly shaped her work. Navigating questions of identity, purpose, and authentic relationships in her twenties, she discovered the unique challenges faced by rising generations.
Keffeler details the "clutter" (identity, relationship, money, contribution) that can uniquely challenge young family members, hindering their ability to truly flourish. She emphasizes the critical importance of cultivating character strengths like grit, mastery, unconditional positive relationships, and a growth mindset, noting that wealth, if not managed intentionally, can inadvertently buffer against their development. Her work champions an approach where family business leaders prioritize intentional parenting and authentic self-discovery to ensure future generations contribute meaningfully, find fulfillment, and drive the family enterprise forward with purpose.
Key Themes:
Cultivating Human Thriving Alongside Wealth
Addressing "Wealth Clutter" for Next-Gen Development
Intentional Parenting to Build Character
Strategic Engagement & Career Pathways for Rising Gen
Connecting Individual Purpose with Organizational Values
Timestamps:
00:01 - Introduction and Welcome
01:11 - Kristin's Work with Families and Human Thriving
03:34 - Kristin's Family Background and Entrepreneurial Story
08:22 - Identity and Challenges Growing Up in a Wealth-Creating Family
Live, Love, and Serve Together: Anne McGregor shares the Herschend Family story and how they create stability and connection.
Thursday, August 28, 2025 • Duration 59:59
Anne E. McGregor, a fourth-generation owner of Herschend Entertainment, the family behind Silver Dollar City, offers insights into their transition from family operators to engaged owners. Her grandparents, Hugo and Mary Hershend, founded the business by purchasing a cave in the Ozarks for tourism in 1950, which later evolved into Silver Dollar City in 1960. Anne's father, Pete, and uncle, Jack, further developed the enterprise, notably contributing to the "boom" of Branson by realizing the community needed to grow with them to provide amenities for visitors. Today, the Herschend family emphasizes intentional family engagement and governance to ensure the business's long-term stability and success, with a non-family CEO since the 1990s. Anne plays a pivotal role in strengthening family connections through philanthropic initiatives via their "Neighbor" company, which also serves as a unifying platform for over 60 family members across multiple generations. The family's purpose is "bringing families closer together," and they strive to live their mission of "live, love, and serve together" through their business and family structures.
Key Themes:
Intentional Governance and Family Stability Culture of Connection through Family Meetings Philanthropy as a Unifying Force Next-Generation Education and Engagement Learning from Peers People-First Purpose and Legacy
Timestamps:
01:06 - Founding story of Herschend and Marvel Cave 06:31 - Growing up in a theme park-owning family 08:05 - Branson's boom and role of community collaboration 12:30 - Anne's background and early career 13:26 - Creation and purpose of Share It Forward 15:46 - Beginning of philanthropic work and founding of Neighbor 19:46 - Family governance: structure of the Family Council 24:19 - Family Office and programming for unity 30:25 - Family meetings and intergenerational bonding 37:38 - Future Owners Group (FOG) and mentoring the rising gen 48:58 - Community impact through Neighbor and family giving
36:09 - Creation of the three-person Office of the CEO & how the model works
48:25 - Leadership through culture, authenticity, & values in a 5,000-person global company
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