Family Business: Building the Governance Partnership for Capital Planning
NACD Minnesota Chapter & FEI Twin Cities Event
Successful family businesses are primary ways to create significant generational wealth, they usually take a longer-term view than other firms and they are often more in touch with local communities than are companies owned by anonymous shareholders. They provide considerable opportunities for financial executives, advisors and other professionals who can address the various wants and needs of the family and the business. Understanding the dynamics and financial concerns of family businesses is essential to success as an executive or an advisor with this clientele.
Join us for a dynamic discussion of the key concerns and opportunities for directors and financial executives focusing on family businesses. Some of the issues that will be covered include:
- The role of effective boards in balancing capital needs for growth with family desires for returns to diversity assets and build wealth.
- The design and use of an “owners plan” process to enable shareholders to set realistic financial goals and communicate with the board
- How a parallel board and family planning process can spark progress in addressing their estate, asset protection and succession plans
- The importance of values for family and business planning
- How the family brand is an important business asset
Key insights and actionable strategies:
- Learn strategies to capture both the business and personal opportunities inherent in each relationship.
- Expand your reach - methods that facilitate board/executive collaboration in serving the business and family.
- Leverage your brand - techniques used by an iconic American brand to increase enterprise value
- Host: George Boyadjis, CPA, MBA, FHFMA, Cresa
Moderator: Allen Bettis, Ph.D., NACD Minnesota Chapter Board
Location and Time
Doubletree Park Place
1500 Park Place Blvd.
Registration: 7:00 AM
Breakfast: 7:30 AM
Program: 8:00 AM - 9:30 AM
Russ MeyerRuss Meyer, is the CFO and Treasurer of White Castle, a 93-year-old restaurant chain and frozen food company that’s owned and operated by the founding Ingram family. The company has more than 400 restaurants in 12 states, and offers frozen burgers in grocery stores throughout the United States. Russ has worked with White Castle for 22 years and began planning for the management transition from the third generation to the fourth about 15 years ago. He was a hit speaker on this topic at FEI’s recent Private Company Forum in Chicago, where he described the company as an often-quirky, “quarter-turn off center” brand. He is a member of the Ohio Society of CPA’s Executive Board, Treasurer of the Ohio CPA Foundation Board of Trustees and a member of FEI.
Allen BettisAllen Bettis, Ph.D. is a consultant in family business governance and author of The Directors Handbook for Family Business Boards: Governance for Agility and Growth (March, 2016) published by the NACD. Allen is a Governance Fellow of NACD and a Fellow of the Family Firm Institute. He currently advises the boards of three family-owned companies and has served as instructor for family business programs at five universities, as well as the Caribbean Governance Training Institute and the Family Business Network in Bogota, Colombia.
Mary DaughertyMary Daugherty, Ph.D., is a Family Business Center Senior Fellow in Applied Finance at the University of St. Thomas, where she teaches courses in Investments and Financial Statement Analysis. Research interests include family business finance and governance, investments. She is a director of Mairs and Power Funds Trust and she is a director and shareholder of Crescent Electric Supply Company, as well as member on the NACD Minnesota chapter board. Mary is also a Consultant specializing in private valuation with an emphasis on helping clients add value to their business.
Scott PolleiScott Pollei is Chief Operating Officer at Boulay, an accounting and financial consulting firm. He is a strategic finance and business executive with a history of growing businesses through acquisitions and organic growth. As a trusted senior advisor, he works with senior management teams to create value through revenue growth and margin enhancement. Scott has proven success in integrating the finance function into a company's operations and in building the strong financial infrastructure required to support rapid growth. He is a corporate director and audit committee chair for Crescent Electric Supply, a $1B a family-owned national wholesale distributor of electrical supplies based in East Dubuque, Indiana.