IN THIS ISSUE
Preparing for the Board Meeting - Staying Private Until Armageddon - Nominate Your Board
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FEATURED ARTICLE
Preparing for the Board Meeting
BY DAVID SHAW
We’ve all heard the quote: “Failing to prepare is preparing to fail,” which is often misattributed to Benjamin Franklin, but seems to come from UCLA’s legendary basketball coach John Wooden. How should a private company ensure that the board meeting provides maximum value to the company’s ownership, management and board members? It’s all in the preparation—and the communication that goes on with board members between the meetings.
At the Private Company Governance Summit 2016, three speakers offered their advice: Dennis Chookaszian, the retired Chairman and CEO of CNA Insurance Companies, who has also served on 12 public company boards and 50 private company boards; Anne Eiting Klamar, a physician by training, who ran her family owned company for 15 years as CEO before becoming Chair; and Eileen C. McDonnell, Chair and CEO of Penn Mutual, the second oldest life insurance company in the US.
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NOMINATIONS NOW OPEN
Private Company Boards of the Year 2017
We’re looking for a few high performing private company boards
Nominate your board, or a board you admire.
Private Company Director, Family Business Magazine and Directors & Boards present the second annual Private Boards of the Year award, dedicated to honoring private company boards who best serve their stakeholders—owners, shareholders, employees and community. These boards will exhibit best practices in their structure, practices and performance.
The award is open to the fiduciary or advisory boards of private companies of all sizes and ownership structures. Size of the company, or indeed, of the board, doesn’t matter.
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OTHER PERSPECTIVES
'Until Armagedon'
BY JIM KRISTIE
The story of how Turtle & Hughes is staying private but embracing outside board members
How and why one of the largest electrical distributors in the country introduced independent directors to its board was the topic that engaged the Private Company Governance Summit 2016 attendees as a luncheon keynote during the full day of presentations on Thursday, May 12.
The company under examination was Turtle & Hughes Inc., a family business that also has the distinction of being one of the largest women-owned companies, not only in the New York area, where the company is based, but, indeed, in the United States. It supplies products and services to buildings all over the world, including the new Freedom Tower in lower Manhattan and, in a fun fact shared with the PCGS crowd, Turtle & Hughes has been lighting the Rockefeller Center Christmas Tree since 1936.
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