Private Company Director - October 2023 Issue

Private Company Board Effectiveness Assessment

Know the items to assess and the best processes for determining their efficacy.

Make Innovation a Priority for Your Board

Twelve factors that can help boards think differently about diversity, strategic planning, succession and more.

Securities Laws Can Impact Private Companies, Too

Boards should be aware of legal issues that apply to raising capital, M&A and more. 

Age Is Just a Number

One's birthdate does not determine whether they possess the skills to help a company succeed.

Director Independence and Board Process Improvements

What should boards focus on to help them get better at oversight?

The 2023 Private Company Board Compensation Survey

While employee and executive wages grow, director pay remains flat, but with a rise on the horizon.

Following a Founder’s Clear Vision

Murray Berstein set Nixon Medical’s second generation and its board on a path toward continued success.

Good CEO/Board Communication Begins with Trust

But when communicating with executives, make sure to listen and provide value. 

The Unboarding Process Requires Both Courage and Tact

It’s important to honor a director’s prior contributions even if circumstances necessitate removing them from your board. 

For Private Companies, Cyber Breaches Are Inevitable

But informed directors, effective C-suite communications and intense preparation can help ward off attackers. 

Defined Structures Create Better Boards

Veteran directors say companies with fiduciary boards and separate CEO and chairman roles have the best chance of success. 

Ford Motor Company Takes the Long Road

Kimberly Casiano discusses the auto giant’s approach to quarterly profits, as well as her advice for private companies. 

Alignment and Oversight Can Make for a Dynamic Board/CEO Relationship

Surveys show that directors and executives are generally aligned on the top issues affecting businesses.

Start Succession Planning Early — and Know Your Lane

CEO involvement in the succession process and future board roles can depend on the executive’s demeanor. 

Supply Chain and Digital Savvy Are Emerging as Board Matrix Mainstays

Also, family companies must leverage the unsung skills of their younger generations.

Silence on Social Issues Is Heard by Your Stakeholders

Let your board and company values determine your guidance on responding to cultural hot buttons.

Private Company Boards Afford (and Demand) Quicker Decision-Making

Whether you’re considering the firing of a CEO or the replacement of a retiring director, make the decision swiftly and authoritatively.

Cybersecurity and Geopolitical Concerns Are Rising as Private Company Risks

But boards still need to monitor operational, financial and talent risks as well.

Crisis Can Serve to Strengthen the Board/CEO Relationship

The partnership of Meghan Juday and Steve Henn was born in the midst of the COVID pandemic. Here’s how they weathered the storm.

The 2023 Private Company Boards of the Year Awards

Eight private company boards were honored at the 2023 Private Company Governance Summit.

Meet the Director: Rhonda Mims

Voices of Experience