Private Company Directors




News and Articles

We have all seen the data and research on how board diversity improves the bottom line.
Seven private company boards were honored for their business governance excellence at the 2021 Private Company Governance Summit June 9-11, live online.
After a year of crises and disruption, it might seem like a relief to close the books on 2020 and pretend the nightmares of a global pandemic, social unrest and economic upheaval never happened.
In her early years as CEO of Midmark Corporation, a Dayton, Ohio-based global manufacturer and supplier of medical, dental and veterinary equipment and services, Anne Eiting Klamar would set goals
This could be the year of reckoning for climate change as politicians, investors and stakeholders-at-large are pushing for big change.
As demographics in the United States become increasingly diverse, forward-thinking boards are determining ways to achieve more diversity of background, experience and thought in the boardroom.
After a challenging 2020, most companies’ leadership and boards are immersed in and fully occupied with the near-term performance of the business.
Like most family businesses, Hussey Seating had a long history of family members serving as our CEO and board chair.
In the summer of 2020, Gallup polled Americans on their confidence in U.S. institutions and, unsurprisingly, the poll showed Americans lacked confidence in almost every one.
I wonder how long we are going to refer to our present as “unprecedented” or “life-changing.”

Lansing Crane

Lansing Crane served his family business for over 12 years as the CEO and chairman of Crane & Co. Inc., a 213-year-old company that manufactures and sells high-security currency products, fine cotton stationery and high-performance, non-woven materials for filtration and insulation. He retired from the company in 2007 and has held board appointments with several private companies—including family-owned operations.


Succession Planning—What Businesses Can Do Before the Black Swan Lands

Almost a decade ago, two McDonald’s Corporation CEOs died within nine months of each other. Last year, the CEO of Deloitte Israel tragically lost his life in a plane crash. Unfortunately, such tragic events occur more often than you might think. A study conducted by the Stanford Graduate School of Business found that approximately seven CEOs of public traded companies die each year.


Supreme Court Extends SOX Whistleblower Protection to Employees of Privately Owned Companies

On March 4, the Supreme Court in Lawson v. FMR LLC held that the whistleblower protection provisions of the Sarbanes-Oxley Act of 2002 (SOX) shields not only employees of publicly traded companies, but also employees of privately held contractors and subcontractors—including investment advisers, law firms, and accounting firms—who perform work for a public company.


New Study Shows Succession-Planning Gap

A new study about CEO succession by the Stanford University Rock Center for Corporate Governance and The Institute of Executive Development (IED) shows that a large percentage of top companies are not paying enough attention to succession planning.

Private Sector Added 139,000 Jobs in February

According to a monthly jobs report from payroll-management company ADP shows that the private sector added 139,000 jobs during the month of February.

  According to Forbes.com, the results came in below the 160,000 economists expected and well below the 12-month average.

 

  Businesses with one to 49 employees added the most jobs during the month at 59,000. Medium-sized businesses with 50 to 499 employees added 35,000 and large businesses with 500 to over 1,000 employees added 44,000 jobs.

Look beyond your personal network to recruit top-level board members

One of the challenges unique to privately owned family businesses is that the longer they're around, the bigger the family gets. And in many cases, as the family grows, so does the number of shareholders.

Family businesses often pass ownership on to family members, of course, which means that by the third generation there can be a virtual sea of family shareholders. In order to satisfy the needs of everyone in the expanded ownership group, the business must grow and continue to be profitable.


The Evolution of Enterprise Governance Across Generations
The Private Company Board Compensation Summary Report 2020

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