Like most family businesses, Hussey Seating had a long history of family members serving as our CEO and board chair. That all changed in the spring of 2016, when my cousin, Timothy — our sixth-generation CEO, chair of the board and leader of the family — passed at age 59 after a two-year battle with cancer. We were faced with losing the key person who ran the business, the board and the family.
When interviewing board candidates who have served in the military, be aware of potential biases and know the right questions to ask.
Directors should be involved in both the development and the implementation of incentive plans for their companies.
Beware not only of “hallucinations,” but inadvertent disclosure of proprietary info and copyright protection as well.
The rapid expansion of AI capabilities has significantly impacted various industries, prompting businesses and individuals to reconsider their operational strategies. While AI can be a powerful tool, it also carries numerous risks that private company boards and shareholders must be aware of, particularly in the realm of generative AI.
Private company boards must work to solidify their operations around sustainability.
Is it any wonder that private company directors are feeling stretched and overwhelmed these days? A barrage of existential factors is accelerating change across the competitive business landscape, including cyber threats and the potential misuse of AI-based technologies as well as climate calamities and federal regulations.
Plus, valuable insights on climate change, board culture and more.
Private companies that do business with public ones must pay close attention to the SEC’s ESG enforcement agenda.
In recent years, the SEC has stepped up its focus on ESG regulation of public companies and investment advisers. While this uptick in focus and enforcement by the SEC does not have a direct effect on private companies, private companies should monitor these developments and, in some cases, adjust their approach to ESG issues accordingly.
Owners may not like talking about their exit, but by helping them do so, boards can ensure the long-term health of their businesses.
Key steps toward evaluating your organization for public company status in 2023 and beyond.
Plus, why trust is so important at a time when digital opportunities are rapidly evolving.
