Effective governance is paramount to any sustainable family enterprise and established entities would generally concede that the guidance and strategy conceived at board level is a crucial contributor to good working relationships.
As soon as our team can determine the family’s needs, we can advise on the evaluation of the existing structure of the business and give guidance to ensure that the new board will add the required value.
We maintain a network of qualified and independent candidates and therefore advise on candidate selection when considering board selection and evaluation efforts.
The board development process is a detailed process which takes stock of the immediate needs at the board level and the strategic plan of the family. Important considerations at this juncture include:
- The need for an advisory board
- Roles and responsibilities of the board of directors
- The need for committees in the board structure
- Compensation of board members
- Preparation of owners to be board members
Frequent board evaluation provides the methodology for attaining the necessary feedback about the board’s performance and provides a framework for useful discussion on family engagement in the administration process. We therefore assist in carrying out the necessary research with the aim of improving engagement, support and shareholder relations.