Abbott Motors
 | |
| Public | |
| Industry | Automobile manufacturing |
| Founded | 1899 |
| Founder | Edwin Abbott |
| Headquarters | Krystallum |
| Subsidiaries | Adastra Automobile Division (defunct 2011) Whiteford Motor Division |
Abbott Motors is an automobile manufacturing company founded by Edwin Abbott in its first iteration in 1899. The first company was known as the Abbott Automobile Company, followed by Abbott Motor Company before the remnants of the AMC was turned into the Concordia Automobile Company. Abbott founded Abbott Motors in 1903 and Concordia was purchased by Ipsarbor Transport Corporation in 1909.
Contents
History
Abbott Motors purchased the Whiteford Motor Company in 1922 and launched the Adastra Motor Division in 1938.
Former Divisions
Abbott Motors purchased Passageway Cars in 1990, Grand Admiral Premier Automobile in 1994, and Korzchu Motor Corporation in 1979. In 1999, Abbott Motors created the Abbott Motors Elite Voyages Division. This included Whiteford, Adastra, Passageway, Grand Admiral Premier Automobile; purchased Ohlen and in 2000 purchased Voyager for the group. Mainline vehicles branded as Abbott Motors were kept from the elite voyages division. In 2002, Abbott Motors spun off Adastra and Whiteford into their mainline branding due to lack of competition with the other luxury and elite brands. Unable to maintain sales in many luxury divisions, Abbott began selling off their brands of the elite voyages division. In 2007, Abbott Motors sold off Grand Admiral Premier Automobile. In 2008, Voyager and Passagway were sold to form the Voyager-Passageway Group. In 2010, Abbott sold Ohlen functionally dismantling the entire group. Korzchu Motors was an Abbott Motors Automotive Division until 2015 until it was sold. The Adastra line of vehicles was defunct in 2011.
Brands
Financial results
Management
The leadership of the company rested with Edwin Abbott Sr. until 1907 when he decided to split the management of the company into two roles: Chief Executive Officer (CEO) and President. CEO would be responsible for upholding the mission and values of the company and the President would be in charge of operations. When the company went public in 1931, the position of Chairman of the Board was created as an oversight for both positions.
Edwin Abbott Sr. retained the role of President when he created it, and named his older brother Henry Abbott as the company's first Chief Executive Officer. Abbott Sr. stepped down from his role in 1910 and Henry Abbott named mechanic and investor Everett Lee Rose I as President. Rose was 80 years old and served in the role for four years until his death in 1914. Rose I's son, Everett Lee Rose II, nicknamed "Lee" began at the company since its founding. When Rose I died, Henry Abbott named Lee Rose as his successor. Henry Abbott knew his younger brother wanted him to remain in his role as CEO, and in 1917, when Edwin Abbott Sr. died, Henry stepped down and named Abbott Sr's son, Edwin Abbott Jr. as CEO. In 1920 Lee Rose stepped down as President and named his son, Everett Lee Rose III as his successor to the presidency. Edwin Abbott Jr. was pleased with the Rose family's involvement and leadership of the operations of the company and in 1925, he stepped down as CEO, naming Rose III as CEO. For the first time, the positions of CEO and President were held by the same person. As CEO and President, Everett Lee Rose III was responsible for many of the company's successes. He saw through purhcase of Whiteford Motors in 1922 and brought the company public in 1931, becoming the first chairman of the board. Everett Rose III was unimpressed with his son's leadership and was not confident in his ability to run the company. In 1933, however, he allowed his son, Everett Lee "Rhett" Rose IV to become President on a tentative basis. Rose III as CEO heavily oversaw his son's actions and activity, ultimately giving him the role of CEO in 1940 after he was impressed with his ability to negotiate and represent the company with foreign investors and leaders. Rose III continued as chairman of the board, retaining his influence over the company.
Structure of the Board
The board of directors for Abbott Motors included members who held 5% ownership shares in the company, as well as any other elected members the shareholders voted in. The chairman of the board was elected by the board itself.
Rose III and Rose IV leadership
As president Rhett Rose saw the creation of the Adastra branded lineup of vehicles introduced to Abbott Motors. Abbott also saw expansion into many foreign markets. Rhett Rose was unhappy with his father's oversight and firm grip over the company, feeling he was owed the company and also has aspirations beyond the company and needed it as a stepping stone. Everett Rose III maintained a 30% ownership in the company, his son had 15% and the next largest owner was the CEO and President of Some big company in 1954, Dude Dueette had 10%. The rest of the ownership were five individuals with 5% ownership each and the remaining 20% were made up of various shareholders. In 1954, Rhett Rose sold his 15% stake in the company to Dude Dueette, who also bought out up three of the 5% owners. With his 40% ownership in the company, he demanded a vote of no confidence in Rose III's leadership as chairman of the board and called for a new election. Dude Dudette was named chairman of the board in 1954, he divested of his newly acquired shares back to their owners. Rhett Rose convinced his father to sell him 15% of his ownership. Rhett Rose now owned 30% of the company, Dude Dudette had 10% ownership and Rose III had 15%. Rhett Rose became chairman of the board in 1955 but in 1958, resigned from all three positions to enter politics as Secretary of Foreign Affairs. Rhett Rose divested of his entire ownership in the company and named Someone random as CEO and President. It was the first time since 1925 a Rose had not held either role. Dude Dueetee was reelected as chairman of the board.
