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Fishery Products International Ltd. is one of the largest seafood companies in North America. In January 2000, Vic Young marked his 15th anniversary as the only chief executive officer of the company. Under his leadership, the company overcame the collapse of the North Atlantic fishery to become an international seafood company and an important contributor to the Newfoundland and Labrador economy. However, its share price has languished and the company was recently the target of a hostile takeover bid. The bid was unsuccessful, due partly to government regulation on the company's stock ownership, but Young realizes another attempt is possible, and wonders how to maintain shareholder confidence in its current board and management team.

Newfoundland-based Fishery Products International (FPI) is one of the largest seafood companies in North America. FPI has experienced its best performance in a decade and has recently survived a hostile takeover bid by three competitors who acted in concert. The chief executive officer (CEO) has just returned from New Zealand where he was visiting a major competitor to see if there was the possibility of a strategic alliance. The CEO knew he had to do something to prevent another hostile takeover and to continue to grow shareholder value while still maintaining the social conscience of FPI. Some of the issues facing FPI were: performance, strategic leadership and corporate governance, and implementing an integrated product differentiation/cost leadership strategy.