In the feature story of this issue of Owner to Owner, BBH sits down with Keith Campbell, chairman of family-owned business Mannington Mills. We discuss the company’s approach to succession planning, hiring non-family executives, the importance of having stated values and a mission and the benefits of a family council.

In addition, we speak with Patricia Angus, a writer, lecturer and advisor to multigenerational families, about the many considerations and challenges when succession planning for family-owned businesses. Finally, Wealth Planner Anne Warren discusses a succession planning tool for family business owners, which is critical though often overlooked: buy-sell agreements. As always, we review the overall economy, credit markets and private equity and mergers and acquisitions markets.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Compliance Notes:
Brown Brothers Harriman & Co. (“BBH”) may be used as a generic term to reference the company as a whole and/or its various subsidiaries generally. This material and any products or services may be issued or provided in multiple jurisdictions by duly authorized and regulated subsidiaries.

This material is for general information and reference purposes only and does not constitute legal, tax or investment advice and is not intended as an offer to sell, or a solicitation to buy securities, services or investment products.

Any reference to tax matters is not intended to be used, and may not be used, for purposes of avoiding penalties under the U.S. Internal Revenue Code, or other applicable tax regimes, or for promotion, marketing or recommendation to third parties.

All information has been obtained from sources believed to be reliable, but accuracy is not guaranteed, and reliance should not be placed on the information presented. This material may not be reproduced, copied or transmitted, or any of the content disclosed to third parties, without the permission of BBH.

All trademarks and service marks included are the property of BBH or their respective owners.

© Brown Brothers Harriman & Co. 2019. All rights reserved.

PB-02877-2019-05-13