The Board of Trustees of the Financial Accounting Foundation (FAF) today appointed a new chair and three new members of the Private Company Council (PCC) to three-year terms that begin on January 1, 2016. Six PCC members were reappointed, according to a Business Wire press release.
News and Articles
Why Should you Join a Board? A Q&A with Robert Tercek
Chairman of the Board, Creative Visions Foundation;
Author of “VAPORIZED: Solid strategies for success in a dematerialized world”
Spent a 25-year career serving as an executive for MTV, Sony and OWN, and as an entrepreneur in disruptive startup ventures.
What board do you currently sit on?
What are the Fastest Growing Private Companies in America?
Inc. Magazine has released its 34th annual Inc. 500 list, an exclusive ranking of the nation's fastest-growing private companies in America.
Each year Inc. publishes its findings on the up-and-coming private companies. This year, a telecommunications company, Ultra Mobile, finds itself on the top of list while a couple of financial services and advertising and marketing companies help round out the top 10.
Here are the top-growing companies at a glance:
8 Lessons Learned from Private Company Board Searches
I work with closely-held and family-owned companies across multiple markets with a broad range of management sophistication. Over the last 25 years of succession and governance consulting, I have helped boards find directors. Independent director positions are hard to fill. Private company shareholders usually develop their own list of candidates, using key advisors, associations and friends. A search process typically involves people they personally know.
My lessons below are from working with their process to help them.
U.S. Census: Women-Owned Businesses Increasing
New government data show that the percentage of women-owned firms has increased, according to a recent Wall Street Journal article.
According to preliminary U.S. Census Bureau data, the total number of U.S. firms rose 2%, to 27.6 million, between 2007 and 2012. The number of women-owned firms increased by 27% over the same period.
Smaller Companies Most Likely Review Succession Planning Only When Necessary
Smaller companies continue to devote fewer resources to and lag behind their larger peers in CEO succession planning, according to a survey by The Conference Board in the latest edition of CEO Succession Practices.
Rick Schwartz Steps Down as WinWholeSale Inc. CEO
Rick Schwartz, CEO and chairman of WinWhosale Inc., one of the largest private companies in Dayton, Ohio, is stepping down as chief executive, according to Biz Journal.
Schwartz spent 17 years in that role and will still serve as chairman of the company’s board.
Jack Johnston, president of WinWholeSale Inc. since 2011, is now serving as the new CEO. He becomes just the third CEO in the history of the company, which was founded in 1956.
US Spies Seek to Lure Private Companies into Collaboration
[Ed. note: the following article appears on www.rt.com]
The US Office of the Director of National Intelligence wants to make it easier for private, “uncleared” companies, which don’t usually aid the intelligence community (such as ridesharing company Uber) to contribute to next generation surveillance needs.
Ultra Mobile Named Fastest Growing Private Company in America
Ultra Mobile, a nationwide mobile carrier developing first-of-its-kind mobile phone services and unlimited international communications, has been named Inc. Magazine's Fastest Growing Private Company in America for 2015, according to a PR Newswire press release.
Over the past three years, Ultra Mobile has recorded revenue growth of 100,849 percent, with 2014 gross revenue of $118.2M, earning the company the number one ranking on the prestigious list.
Informatica Goes Private: Microsoft, Salesforce Strategic Investors
[Ed note: the following article was written by Larry Dignan and appears on zdnet.com]
Informatica closed its deal to go private Thursday and disclosed that Salesforce and Microsoft both bought a stake.