Graham C. Grady
Partner, Taft, Stettinius & Hollister, LLP
The Pepper Companies is one of the top builders of sustainable projects. They srve clients in a variety of markets including healthcare, education, commercial interiors, manufacturing and industrial, civic and cultural, data centers, entertainment, hospitality and gaming.
Only a handful of companies had forecast and planned for the disruptive possibilities of a pandemic, and Quarles Petroleum Inc. was not one of them. Still, this family-owned fleet fueling and propane distribution business was able not only to survive COVID-19, but also to proceed full steam ahead on its five-year strategic plan and successfully complete an acquisition. Plus, it was able to fill an open board seat.
Thank you for participating in this important survey, which was conducted by Private Company Director, Family Business Magazine and Compensation Advisory Partners.
614 usable responses were received (out of more than 750 total respondents). To be usable, a response needed to be at least 75% complete, non-duplicated by other respondents, and contain data in the proper formats.
The pandemic and other recent events are presenting new challenges for public and private companies alike, from supply chain risks to heightened shareholder concern about environmental, social and corporate governance issues. Many large organizations will need to rethink their board makeup in the new normal. The background experience and knowledge that have traditionally been sought after in board directors may not be sufficient to lead today's companies into the future.
The start of 2021 looks very different from the start of 2020. The COVID-19 pandemic was a “make or break” as many already-struggling companies went bust while others boomed.
When the line between family and the business is crossed, the board can help solve possible problems.
Robert Unanue, the CEO of Goya Foods Inc., has made controversial public remarks that have led to calls for boycotts of the company’s products and to a vote for his censure from board members, who are all family-owners.
Special purpose acquisition companies (SPACs) have become an increasingly popular route to the public markets, and they show no sign of slowing down. In 2020, SPACs netted record-breaking IPO proceeds of over $50 billion, and the more than 60 completed and announced SPAC mergers dwarfed the 21 and 22 seen in 2018 and 2019, respectively, based on public filings and assumed transaction sizes. If this trend continues, active and filed SPACs could result in more than 200 new public companies worth over $300 billion.