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.