PT NYONYA MENEER: SURVIVING THE TRAGEDIES, LEADING TO SELF GOVERNANCE

One day in late October 2000, Charles Saerang sat in his office, reviewing the family conflicts and tragedies in the history of P.T. Nyonya Meneer. He is the third generation of the Meneer family and now fully controls the company. Charles reexamined the old Chinese saying that the first generation builds a company, the second generation expands it, and the third destroys it. He swore to himself that he would not let this happen. He wanted to turn the Nyonya Meneer into a world-class traditional medicine company and bring greater pride and welfare to its stakeholders. At this time Charles began with the idea of restructuring the company’s organization to have a structure that can accommodate and maintain a better relationship between the family, shareholders and the management in the future, while at the same time reflect the family’s governance.