Michael Yeadon

Michael Yeadon has a ‘hands-on role’ as executive chairman of the Plennegy Group. His educational journey saw him matriculate at Greytown High School before heading to the University of KwaZulu-Natal in Pietermaritzburg, where he completed a bachelor of commerce with a focus on accounting and law, followed by a bachelor of law. He began his career by articling with Cox Yeats Attorneys in Durban, working under Campbell Alexander. “Graham Cox and Alistair Hay were also significant influences during my time there,” he recalls. To accelerate his qualification, Michael attended the University of Durban’s practical legal training, which allowed him to be admitted as an attorney at the Pietermaritzburg High Court after just 18 months.

With the ink still drying on his attorney’s certificate, Michael’s ambitions took him to London, where he spent a year undertaking various roles within the banking sector, including stints at HSBC, Bankers Trust, and Chubb Insurance. “It was all temporary work,” he explains, “but it provided a wealth of experience.” Upon his return to South Africa, he joined Arthur Andersen in Johannesburg, working in international tax.

The transition to Standard Bank’s Corporate and Merchant Banking division marked Michael’s shift to structured finance. “I spent three years there, selling structured finance products to blue-chip clients,” he says. “Those were formative years,” he notes. Con- currently, he earned a Master of Commerce (MCom) in financial management, a challenging endeavour given his legal background. “I was the only trained lawyer in the programme, which brought a unique perspective to the class,” he adds.

Eventually, the call of the family business became irresistible. “My wife and I moved back to Greytown, where I became the legal and commercial director at Pannar Seed, the business my stepfather Brian Corbishley founded in 1958,” he recounts. This decision marked the beginning of his 22-year journey within the Plennegy Group.

MAINTAINING THE FAMILY LEGACY
Plennegy serves as the umbrella for several companies, including Starke Ayres, Triton Express, Jupidex, Pidelta, Mascor and Wembley College, each with its own focus. “I chair all the boards but don’t involve myself directly in the day-to-day running,” he explains. “My purpose is to maintain the family legacy – looking after family members and employees, and ensuring our operations remain sustainable.”

Michael describes the business as a “second- generation family endeavour, “noting the involvement of his younger brother and brother-in-law in the operations and his wife and sister in the community operations. “The purpose is continuity,” he asserts. “We aim to keep things running smoothly for another 65 years, building on the foundation laid in 1958 by Brian Corbishley.” He explains that the agricultural focus, especially in seed research and development and production, is central to the company’s mission. Brian Corbishley’s passion for agriculture was driven by a desire to feed Africa, which was intertwined with the aim of generating profit. At the time of its sale, the company was responsible for supplying approximately 70 - 80% of the subsistence food in sub-Saharan Africa through various programmes.

“Agriculture may be at the base of the food chain,” Michael acknowledges, “but it’s the most crucial link. Without seeds, land, and farming, there is no food.”

The passing of his stepfather eight years ago left Michael in a difficult position. “My stepfather was the figurehead of the family business,” he explains. “I was the second youngest, not the eldest, yet I had to step into his shoes.” Navigating family dynamics while trying to keep the business afloat proved challenging.

Michael highlights the importance of having allies within the business, such as his younger brother, older sister, wife and brother-in-law. “Between the five of us, we’ve kept the group of companies sustainable, providing jobs for 4,500 people.” He stresses the weight of this responsibility: “These families rely on us to keep things going.”

AN AUTHENTIC LEADER
Reflecting on his career, Michael highlights several key moments. “Graduating with an LLB and later an MCom while holding down a demanding job was definitely a proud moment,” he says. However, a significant accomplishment came when the American company DuPont acquired Pannar Seed. “I was appointed as managing director,” he recalls. “Even though we were selling our shares, they chose me to lead. However, once the family completely sold out, it was time for us to move on.”

Michael commented that he has been complimented for being an authentic leader. “Authenticity can be difficult,” he admits. “It’s not always easy to tell the truth, but it’s necessary.” He lists key leadership qualities that he strives to embody: “Self-awareness, decisiveness, logical thinking, and active listening. I believe in open communication. My door is always open.” However, he acknowledges the need for boundaries. “Not everyone can come to me directly, but I ensure there is a clear structure in place for issues to be resolved.”

Leading by example is also crucial to Michael’s approach. “No task is too small for me,” he says. “If you think a task is beneath you, then you’re in the wrong organisation.”

Michael’s inspiration comes from both past and present. “My stepfather was a visionary,” he recalls. “He was the driving force behind the company, and I’ve always aspired to follow in his footsteps.” On a personal level, his wife inspires him ‘to lead a good life and to show determination’. In the business realm, Michael’s younger brother stands out. “He’s astute, hardworking, and always gets things done,” commented Michael. “We make a good team.”

Looking to the future, Michael sees an opportunity for businesses to step up. “We need to go beyond profit,” he asserts. “Helping communities is now essential.” Plennegy has increased its corporate social investment in education through Wembley College. “KZN businesses must play a role in uplifting the communities in which they operate,” he argues. “The government cannot do it alone.”

In closing he says, “My motto is to say what I mean and mean what I say. Authenticity isn’t just a business principle; it’s a way of life.” This guiding principle helps him navigate the complexities of running a family business while maintaining personal integrity.