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Case Study 1 – Governance

Establishing a governance framework

The client was a second generation family owned business.

The business was originally founded by a sibling group and so the number of shareholders was already quite large, with each shareholder owning a very small percentage of shares.  The number of bloodline descendants even more numerous and growing.

The third generation were adults with careers of their own in other industries and they were beginning to have families of their own.  The members of the second generation that were on the board were approaching retirement age and had begun to consider how the family business would be owned and run following their retirement.

We helped a working group of family members to develop a family business governance framework that suited their business and family.   This involved the family establishing a Family Council and considering how the family council would function and what its remit would be.

We also helped the family to draft a Family Charter setting out how the council would operate, for example, how council members would be appointed, how meetings would be run and how the council would communicate with both the wider family and the board.  We facilitated the working group meeting and the very first council meeting, to help to get the family off on the right foot and to provide education and guidance where necessary.

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