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Advanced product technology award on 2019 oct

May 22, 2019

Latest company case about Advanced product technology award on 2019 oct

While forrester Mars has done extremely well so far, acquiring his father's company is his biggest challenge. He believed that his father's company was legally his because he had invented the galaxy bar and he had suggested that his father set up the Chicago factory. Under frank Mars's second wife, esther, and daughter Patricia, the company lacked innovation. After his death, half of the stake was transferred to forrester, and as a result of the inheritance, he fought a battle for control of the company with his illegitimate son, William Kruppenbacher. Forrest Mars modernized the factory and introduced the machine - made candy in 1953. By 1959, with the introduction of forrester Mars, Mars was the world's number one manufacturer of sugar coated bars. However, forrester still wants full control of the company.

When kubenbach retired in 1959, Patricia's husband, James Fleming, was named President and chief executive. Under his watch, product quality slumped as he cut back on expensive ingredients such as peanuts and chocolate, and profits deteriorated. Forrester Mars eventually convinced Patricia to give him an 80 percent stake, and he offered to put his company under Mars in exchange. He then persuaded the remaining shareholders to sell him their shares, giving him full control of Mars. In December 1964, forrester Mars finally became chairman, President and CEO of Mars.


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