News and Articles
Private Company Board Compensation 2021
As the market is heating up for attracting and retaining diverse and talented directors, private companies are reviewing their director compensation levels in order to remain competitive. To help private companies benchmark program costs, Private Company Director teamed with Compensation Advisory Partners (CAP), an independent compensation consulting firm, to conduct the 2021 Private Company Board Compensation Pulse Survey, which updates and expands the data we captured in 2020.
Should Private Companies and Family Businesses Care About ESG?
The pressure on companies to enact ESG (environmental, social and governance) plans has come from all sides: investors, stakeholders, employees and regulåators. Public companies have been asked to identify ESG metrics and goals, report on those goals and hold themselves accountable to new and evolving issues.
The Qualities of a Resilient Board: Considerations for the “next normal.”
After an arduous 2020, many boards have been able to turn their focus from crisis management to recovery. Governance questions now involve worker safety; whether employees need to be on site to be productive; how to strengthen supply chains; and what diversity, equity and inclusion mean for the enterprise.
Redefining Private Company Board Service
The Board/CEO Relationship: Clear communication and transitions are board responsibilities.
For publicly traded companies, the board’s primary responsibility is often defined as the hiring and firing of the CEO. In privately held companies, the CEO is often a major shareholder, a family member or perhaps the founder of the business, which makes the relationship with the board more complicated. But in each case, communication is vital in cultivating a healthy and productive relationship between the board and the CEO.
A New Perspective in the Boardroom: Women board chairs bring diversity of thought to the table.
Meghan Juday was appointed chairman of IDEAL Industries in February 2020. A few months before, the company had welcomed a new non-family CEO. A month later, it faced the global pandemic. And now, it’s dealing with a year of “insane growth.” As she faced these issues, she wondered if other women board chairs might be able to offer her support and advice. She found a curious statistic.
The Power of Independent Directors: Christie Hefner says a board must be open to new voices, ideas and questions.
Christie Hefner’s start in corporate governance was somewhat unusual. While most directors begin on a nonprofit or private company board, she became chairman of the board and CEO of the publicly traded Playboy Enterprises in 1988. The company had been founded by her father, Hugh Hefner. She remained in the post for 20 years.