Four-Way Unanimous Veto on Big Bets

“This type of exercise was nothing new for the Couche-Tard team—although they were used to a more modest scale. They had become experts in their unique choreography: Jacques D’Amours handled leases and distribution, Richard Fortin examined the financial records and debts, Réal Plourde analyzed human resources and the operational structure, and Alain Bouchard looked at real estate and the global business plan. Each team member was important, each had his own strengths. It was a given that no decision of that scale could be taken unless they all agreed.”

“the four men had come to a conclusion: They should stay the course. The main reason, in Fortin’s view as a former banker, was that no bank would dare cut off funding for a company with a cash flow of $3 million. “We should continue operating,” he said. But they should also roll up their sleeves, he added, and strive to improve performance.”