Wines & Vines

September 2016 Finance Issue

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WINEMAKER INTERVIEW 52 WINES&VINES September 2016 Q A number of California family wineries founded in the 1970s and '80s have been sold because the founder's children weren't interested in taking over. How did your family avoid that situation? Kevin Corley: Our parents, grandparents and parents before them really set the stage for a great family environment, whether at work or in a fishing boat. For the most part, when our generation was growing up and thinking about future careers, most of us were thinking of the larger business world, and many of us went in the direction of accounting, banking and general business careers. This proved to be helpful, so that some years later, as Mon- ticello was developing, a number of us were drawn to the winery estate in Napa Valley and could bring our perspectives from the more corporate world. The fact that there are seven siblings in our generation gave us a pretty good shot that at least some of us would like to be involved. Stephen Corley: Our father had started or invested in dozens of businesses before he founded Monticello Vineyards, so his passion for farming and wine was always grounded with solid business practices. We are family- first-oriented managers, and that includes a respect for the fact that we are not really assuming control from the previous genera- tion but borrowing control from the next generation. I believe that orientation keeps our eye on long-term success, keeps us pa- tient and generally conservative in our man- agement practices. Q With four brothers working in the win- ery, how do you reach major decisions about the business? Chris Corley: Each of us has a specific area of responsibility at the winery, each of which lends itself to the whole of the business. We meet weekly to discuss issues that are relevant to each of our departments, or where there is crossover of responsibilities. These weekly meetings also give us an opportunity to stay in touch with what each of us is working on, and that helps to avoid surprises. By maintaining a focus on keeping our long-term strategies in alignment, we find that the short-term tactics tend to fall into place. Kevin Corley: Our father's guidance early on, along with the fact that we make our wines from only vineyards that we own or have long- term relationships with, have served to set reasonable parameters to help guide our busi- ness. Mutual respect among all of our employ- ees, including family members, has gone a long way to help us recognize in almost every deci- sion that even if there are different approaches, we always have much more in common than not. As a result, there have been very few sig- nificant differences over the years. We are very mindful that we are making an artisanal product and that it is created by an artisan and not by committee. The wines will always be representative of the particu- lar terroir of our vineyards, but in terms of the details of the winemaking, the wine- maker (Chris Corley) has carte blanche to create the finest wines from our Napa Valley estate vineyards. Stephen Corley: Each of us has our sphere of influence—winegrowing, winemaking, sales and marketing, and administration—and deci- sions need to be made by the individual with the boots on the ground in that sphere, but with respect for the thoughts and perspectives of the others. Jay Corley's sons are determined that the winery will remain in family hands for the foreseeable future. winesandvines.com View this issue on your tablet, smartphone or online at winesandvines.com/digitaledition Subscribe online at winesandvines.com/subscribe WINES & VINES DIGITAL EDITION

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