News and Articles
The Role of the Private Company Board in Family Business Succession
One of the most important responsibilities of a board is to ensure a smooth CEO succession, whether the company is public or private. However, succession planning in a privately owned family business will have many unique considerations the board must consider.
As stewards of Seaman Corporation, an industrial fabrics business founded by my father, we have been part of three CEO successions.
Our Board Evolution: It's Never Too Soon to Start a Board
I joined the company that my father and grandfather started together in late 1996, when David S. Lapine Company, Inc., was 28 years old. My grandfather had retired and my father had sole ownership. In those days, I gave no thought about future ownership, nor did I ever consider the different challenges faced by a family-owned business compared to any other. After seven years, the family complexity had changed substantially during those seven years. Two other members of my generation — my brother and my cousin — joined me at the company.
FM Global is a mutual insurance company whose capital, scientific research capability and engineering expertise are solely dedicated to property risk management.
One Family's Road to IPO
One Door is a provider of cloud-based visual merchandising software. With One Door, space planners, visual merchandisers and store operations teams work to plan, execute and analyze store merchandising plans in a unified, cloud-based platform.
Ribon Therapeutics is a clinical state biotechnology company developing therapeutics targeting novel enzyme families that contribute to disease. Their lead program is an inhibitor in development for the treatment of cancer.