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WASHINGTON, April 05, 2016 -- According to The Family Business Institute, 88% of current family business owners believe the same family will control their business in five years. However, only 30% of family businesses survive into the second generation. The National Association of Corporate Directors (NACD), the advocate for the profession of directorship, has released several resources to help family businesses build boards that will serve as strategic assets to their organizations, now and well into the future.
Family-Company Governance Track
NACD will introduce its inaugural Family-Company Governance Track at its renowned NACD Advanced Director Professionalism® course in Chicago in June. The program will include interactive simulations and expert-led workshops on family-business dynamics and emerging risks.
Family Business Boards Governance Survey
The survey finds that (1) most family-company boards do not impose director-tenure limits, (2) only one-quarter of family-company boards have formal CEO-succession plans, and (3) there is a high level of dissatisfaction with the quality of the cybersecurity information received from management.
The Family Business Board, Volume 1: Purpose and Structure
Volume 1 addresses the two challenges that lead family businesses to build a more professional board: complexity (of the company and family) and change (in markets, technologies, and business models).
The Family Business Board, Volume 2: Governance for Agility and Growth
Volume 2 offers real-world examples of family-company boards that helped their companies evolve while preserving the best elements of the family culture.
“Our survey found that family firms have a longer-term mindset for executive compensation compared to public companies—clearly they are thinking about the next generation,” said NACD’s CEO Ken Daly. “Our new resources will help family-business leaders build effective boards to ensure the long-term viability of their companies.”
About NACD
The National Association of Corporate Directors (NACD) helps more than 17,000 directors lead with confidence. As the recognized authority on leading boardroom practices, NACD aspires to a world where businesses are sustainable, profitable, and respected, and where stakeholders trust directors to develop strategies that create long-term value and provide effective oversight. World-class boards join NACD to elevate performance, gain foresight, and instill confidence. Fostering collaboration among directors, investors, and governance stakeholders, NACD has been shaping the future of board leadership for more than 35 years. To learn more about NACD, visit www.NACDonline.org. To become an NACD member, please contact Steve Kalan at [email protected] or 202-572-2089. If you are already a member, contact your NACD Concierge at [email protected] to ensure that you are receiving the best value from your membership.
Media Contact: Henry Stoever Chief Marketing Officer 202-775-0509 [email protected]
