Using Family Members Effectively on Your Board of Directors
WHAT WILL BE DISCUSSED:
Using independent directors on your board?
The reality is that only 46 percent of family businesses have them. The truth is that you can have a highly effective board of directors made up entirely of family members who care about the business and have the skills needed to guide and grow it.
This information packed session, we'll show you how to choose the best board candidates from your pool of family business members. You'll learn the secrets to creating a selection system that avoids resentment and interpersonal issues while cultivating the board that will best serve the current needs of the business. This session will cover:
- deciding who sits on the board objectively and without creating animosity
- establishing the best fit for the company's needs
- determining appropriate board compensation
- protect the rights of non-employed shareholders
- structuring and managing your board
- making an all family board highly effective
- follow the advice in this session and you'll change the effectiveness of your board and the success of your business for the better
Facilitator Jennifer Pendergast will lead our panelists in a discussion covering how to confront conventional wisdom that you must have independent board members. She'll also cover handling sticky situations, such as holding family managers accountable, and balancing branch and senior management representation on the board.
Michael Zdeb will share his thoughts and experiences on how to ensure that your family-run board avoids isolating your minority members through shareholder oppression.