Private Company Directors

News and Articles

As the market is heating up for attracting and retaining diverse and talented directors, private companies are reviewing th
The pressure on companies to enact ESG (environmental, social and governance) plans has come from all sides: investors, sta
After an arduous 2020, many boards have been able to turn their focus from crisis management to recovery.
A 15-month shakeup changed the rules of engagement.
For publicly traded companies, the board’s primary responsibility is often defined as the hiring and firing of the CEO.
Meghan Juday was appointed chairman of IDEAL Industries in February 2020.
MacLean-Fogg has annual revenues of more than $1 billion and a professional, majority independent fiduciary board, but ther
Strong corporate governance can steady any company, whether a 160-year-old agribusiness or a 16-year-old bank.

Reforms reduce tension among minority owners

The opportunities for involvement and information that privately held companies extend to investors who are strangers are rarely extended to shareholders who are relatives. In my experience, few family businesses provide their minority shareholders with even one of three critical protections most investment bankers, venture capitalists and private equity investors insist on before purchasing a minority interest in a privately held company. Majority owners of family businesses often view a family members’ request for even one of these protections to be almost a declaration of war.

Board Recruiting: The ‘Known Quantity’ Factor In Finding New Directors

The most common method of successfully recruiting a new director involves existing board members and company officers using their own networks and personal contacts to suggest names of possible candidates. Survey results suggest that 65 percent of board appointments are based on board members’ own network or personal knowledge.

Directors: Don’t Forget What Your Real Job Is

One of the key lessons that board members must learn is not to cross the line between governance and operations. The most important job of the board on which you serve is to hire the CEO and hold him or her accountable for results. By crossing the line, you interfere with the ability of the CEO to do their job.

How to develop a deep bench of family directors

Sometimes it seems easier to leave the running of the family business to professionals who earned their stripes working in the industry. But the most effective family businesses are those where the family, the board and the management form a true partnership. All three do their part in ensuring that the business strategies are being executed and are part of the important conversations taking place in the boardroom.

Tax Transformation for Mid-Market and Private Companies: Is Now the Time?

​Webinar on December 17.  Mid-market and private companies that expand across state and international borders face new tax risks and compliance demands. How can tax transformation help, and what could it look like for your company? Learn ways that mid-market and private companies can benefit from tax transformation.  Learn more.

Closing the Gaps: An Ongoing Challenge for Private Company Boards

Shifting markets and business models pay no heed to corporate structure: Rapid changes and new risks and opportunities brought about by technology, globalization and other factors have made the boards of public and private companies an increasingly vital source of expertise and perspective to help keep the company on track.

For private companies, however, shaping the right board—e.g., expertise, independence, mentorship—can be particularly challenging.


Policies help family businesses meet challenges

In addition to general business challenges—like the economy, competition and the need for product innovation—family-owned companies must contend with issues unique to family businesses, such as the need to preserve harmony. But potential family disagreements need not threaten the survival of the business. Early and proactive planning before the issues arise enables family businesses to successfully navigate internal and external pressures.

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

Directors Record