The organisation is enhanced, 1997–2007
U
p until 1995/96, Group Managing Director Kjell Storeide and the organisation around him achieved the main objectives that were set when the group hold was consolidated in 1990: Vågå Møbler was sold, Vatne Lenestolfabrikk was consolidated with the new version of Møremøbler, the properties at Moa were demerged from Stokke Industri into a separate corporate structure and financial management was improved. Nevertheless, there was still some way to go before Stokke Industri AS emerged as a unified group with positive synergies and a clear structure.
New roles In 1997 a generation shift occurred in the Stokke group when Rune Stokke purchased the remaining 8 % A shares in the company from his father, Kåre. At the same time Rune sold most of his 23 % stake in the Moa property to his siblings in return for a settlement in industrial shares. After this he became the owner of 58 % of the holding company in the industrial part of the company, including
all the company's A shares. He thus controlled the company (the Stokke group) which owned 91 % of Stokke Industri AS. It was important for Rune that his siblings Geir, Knut and Kristin should also be owners of the industrial part of the company. They each owned 14 % of the B shares in the holding company. Their shares carry the same financial entitlements as those owned by Rune. The remaining 9 % of the Stokke group was owned by Kjell Storeide. During the same year Rune Stokke took over from his father as Chairman of the Board of Stokke Industri AS. Kjell Storeide had enjoyed close cooperation with Kåre Stokke right from the time he joined the group in 1977. Now Junior was to become his employer and boss. He had lost his mainstay within the owner family and would have to get used to a new one. In the first instance, the challenges presented did not consist of professional disagreement, but rather adjustment to new roles. After a few demanding challenges during the transition phase, things settled down. Rune, who had taken over as Chairman of the Board, soon handed over that position to Even Wahr-Hansen and instead accepted the challenge to manage Movement, which in 1998 was in a difficult situation. Rune continued as a member of the Board and these changes helped to ease cooperation within the organisation.
The Stokke group was ready for a generation shift in 1997. Kåre Stokke, who had managed the company since 1964, felt that the time was ripe to allow the next generation to take over responsibility and ownership. The family still wanted to retain its single-owner model. It was clear very early on that it was Kåre's oldest son, Rune Stokke, who would take over main responsibility for the family company during the forthcoming years.
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