Almost a decade ago, two McDonaldâs 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.
News and Articles
Succession Planning—What Businesses Can Do Before the Black Swan Lands
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 subcontractorsâincluding investment advisers, law firms, and accounting firmsâwho 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.