January 17, 2018
Nancy Drozdow & Mark Haranzo of Holland & Knight present "Best Governance Practices for Family Held Operating Businesses" at the Institute for Family Governance Annual Meeting.
Advisors to families committed to retain their collective stewardship of assets have had success in offering structures to do so: family councils, family offices, family foundations, and others. Governing these structures has often been by trial and error - what skills are needed, what participation is wanted, and most critically, what purpose is served. In this, operating companies can stick out like a sore thumb, especially when the legacy family business is in the mix. Using a case illustration (a family with a 4th generation operating company), Nancy and Mark will explore the idea that structures are necessary, but not enough to overcome the centripetal forces that pull at increasing numbers and diversity of family. A framework and examples of reinforcing supports for governing across the enterprise will be provided.
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