Corporate Management
Former Wisconsin Governor Walter J. Kohler, Sr. was President of Kohler Company and his son former Wisconsin Governor Walter J. Kohler, Jr. served for many years in senior management. Today, the president of Kohler is Herbert V. Kohler, Jr. (born February 20, 1939), grandson of the founder.
In 1998, Kohler made a plan to buy back any outstanding shares not owned by the family. All family members had to exchange their common shares for share with limited rights, those that could not be sold. Since Kohler is not a publicly traded company, the number of shares floating were minimal. Kohler offered $55,400 per share, but some shareholders challenged this valuation and sued.
The IRS also challenged this valuation by prosecuting the estate of Frederick Kohler, who had recently died holding 975 shares. Kohler won the lawsuit against the IRS.
Read more about this topic: Kohler Company
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