In this issue of Owner to Owner, we examine succession planning from several angles. Our Center for Family Business looks at the requirements of the founder or CEO both during and after transition, next generation family members as well as boards of directors, and also explores options in a situation where traditional ownership succession may not be the best path forward.
A leader’s openness to exploring a future for themselves represents a crucial turning point in beginning the transition journey. We lay out several steps owners can take to begin on the path of a successful transition.
Many family businesses rely on their boards of directors to help them during succession planning. Here, we share our top considerations as it relates to boards of directors and their involvement in the process.
The decision to pursue an outside exit strategy, as opposed to a traditional family ownership succession path, is a difficult one. We lay out several steps that owners who are grappling with this issue can take as they seek to determine the best strategy for themselves, the family and the business.
In the feature article of this issue of Women & Wealth Magazine, Adrienne Penta, Executive Director of the Center for Women & Wealth, explores ten important strategies for raising children to be responsible stewards of wealth. It is never too late to start!
Adrienne Penta, Executive Director of the Center for Women & Wealth, sat down with Suzanne Brenner, BBH Partner and Chief Investment Officer, and Justin Reed, Deputy Chief Investment Officer, for a candid and insightful conversation on creating a diverse team with an inclusive culture. They explore how and why that may lead to better outcomes for our clients.
In the feature article of this issue of Women & Wealth Magazine, we speak with Danielle Duboise and Whitney Tingle, co-founders and co-CEOs of Sakara Life, who started the company with $700. Now, Sakara Life has delivered millions of organic plant-based meals nationwide, enabling customers to transform their lives through the power of food as medicine.
Owner to Owner examines issues around growth, liquidity and control in private business ownership, speaks with a 110-year-old family business and examines lessons for the intersection of business, personal values and philanthropy.
Tom Martin, Matt Sweetser and Christine Hourihan provide an overview of the business environment on three fronts: the overall economy, the credit markets and the private equity and mergers and acquisitions markets.
Growth, liquidity and control are all interests core to private business owners, but they don’t always align. In the feature article of this issue, we speak with Rob Lachenauer, Managing Partner of BanyanGlobal, and Ben Persofsky, Executive Director of the BBH Center for Family Business, about the complications that arise around these strategic decisions when there are multiple owners with different priorities and how private business owners can best manage these competing interests.
We sit down with Victoria Mars, former chairman and first corporate ombudsman of Mars, to discuss running a successful family business for 110 years, engaging family members after five generations and leveraging values and principles to maintain focus.
We examine the story of Madam C.J. Walker, America’s first female self-made millionaire and a Black woman, which offers some useful lessons for the intersection of business, personal values and philanthropy.
In our feature article, we speak with Chime Solutions Co-Founder and COO Shelly Wilson about the company’s mission and vision, the impact the business is having in the communities in which it operates and what’s next following tremendous momentum over the past year.
Tom Martin, Grant Smith and Christine Hourihan provide an overview of the business environment on three fronts: the overall economy, the credit markets and the private equity and mergers and acquisitions markets.
In our “By the Numbers” infographic, we explore the enormous effect COVID-19 has had on women on the frontlines, at home and at work, as well as highlight a few silver linings to come out of the pandemic.
In the feature article of this issue of Owner to Owner, Jon Rennert, CEO of ZOLL Medical, shares how ZOLL was able to quickly ramp up ventilator production to help fight COVID-19, what the future of the office may look like and leadership through crisis.
In the third quarter 2020 issue of Owner to Owner, we explore communication, management and governance during a crisis and personal risk tolerance as the world continues to change as a result of COVID-19.
In the feature article of this issue of Owner to Owner, we sit down with Tyler Morse, founder and CEO of MCR Hotels, and his wife and creative partner, Rebecca Morse, to discuss developing the TWA Hotel, scaling the business and working with your spouse.
In the feature article of this issue of Owner to Owner, we sit down with third-generation family business Cervera Real Estate to discuss playing the long game when it comes to best serving clients, navigating the complexities of a family business and planning for succession.
In our feature article, we sit down with Kelley Earnhardt Miller, co-owner of JR Motorsports, to discuss how NASCAR started with local families and evolved into a sport dominated by family businesses. She spoke to us about her views on succession, legacy and the role of women in racing.
In the feature article of this issue of Owner to Owner, we sit down with Kerry Sulkowicz, M.D., the founder of the Boswell Group, to discuss the challenges leaders face, the complexities of leadership in private and family businesses and the common qualities he has seen in the best leaders.
We sit down with Michael Preston, an adjunct professor at Columbia Business School and the co-director of its Family Business Program, to hear insights and advice gleaned from teaching the next generation of family business owners for more than two decades.
In the feature article of this issue of Owner to Owner, we sit down with Ward and Nico Landrigan, the father-son duo behind fine jewelry lines Verdura and Belperron, to discuss Ward’s acquisitions of the two brands, Nico’s decision to join the family business and their approach to handling communication.
In the feature article of this issue of Owner to Owner, we sit down with Tim Belk, former CEO of the Belk department store chain, to discuss what running a family business entails, the process of selling his family’s 127-year-old company and why organic farming is one of his post-Belk ventures.
In the feature article of this issue of Owner to Owner, we sit down with father-daughter duo John and Sue Leone of Bonney Forge to discuss how the company evolved into a family business, what it is like to work with family members and how they have approached succession planning.
We sit down with Jeff Schoenfeld to discuss his experiences as a BBH Partner, why seeking out LGBTQ-knowledgeable investment advisors and wealth planners may be useful for LGBTQ individuals, some of the financial and wealth planning obstacles that remain for LGBTQ individuals, and more.
In the feature interview 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.
By selecting this link, you are leaving Brown Brothers Harriman & Co. internet website. This link is provided for informational purposes only. Brown Brothers Harriman & Co. is not responsible for the content within this linked site and no endorsement of their content is implied
If you are leaving to view a video on a third-party website, the views expressed in the video are as of the date in the broadcast. The positions expressed in this material are those of the author and may or may not be consistent with the views of Brown Brothers Harriman & Co. and its subsidiaries and affiliates ("BBH") and are intended for informational purposes only. Information contained herin is based upon various sources believed to be reliable and are subject to change without notice. Furthermore, these positions are not intended to predict or guarantee the future performance of any currencies or markets. This material should not be construed as research, or as investment, legal or tax advice, nor should it be considered information sufficient upon which to base an investment decision. BBH is not affiliated with the third-party site.
Important Information for Non-U.S. Residents
You are required to read the following important information, which, in conjunction with the Terms and Conditions, governs your use of this website. Your use of this website and its contents constitute your acceptance of this information and those Terms and Conditions. If you do not agree with this information and the Terms and Conditions, you should immediately cease use of this website. The contents of this website have not been prepared for the benefit of investors outside of the United States. This website is not intended as a solicitation of the purchase or sale of any security or other financial instrument or any investment management services for any investor who resides in a jurisdiction other than the United States1. As a general matter, Brown Brothers Harriman & Co. and its subsidiaries (“BBH”) is not licensed or registered to solicit prospective investors and offer investment advisory services in jurisdictions outside of the United States. The information on this website is not intended to be distributed to, directed at or used by any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation. Persons in respect of whom such prohibitions apply must not access the website. Under certain circumstances, BBH may provide services to investors located outside of the United States in accordance with applicable law. The conditions under which such services may be provided will be analyzed on a case-by-case basis by BBH. BBH will only accept investors from such jurisdictions or countries where it has made a determination that such an arrangement or relationship is permissible under the laws of that jurisdiction or country. The existence of this website is not intended to be a substitute for the type of analysis described above and is not intended as a solicitation of or recommendation to any prospective investor, including those located outside of the United States. Certain BBH products or services may not be available in certain jurisdictions. By choosing to access this website from any location other than the United States, you accept full responsibility for compliance with all local laws. The website contains content that has been obtained from sources that BBH believes to be reliable as of the date presented; however, BBH cannot guarantee the accuracy of such content, assure its completeness, or warrant that such information will not be changed. The content contained herein is current as of the date of issuance and is subject to change without notice. The website’s content does not constitute investment advice and should not be used as the basis for any investment decision. There is no guarantee that any investment objectives, expectations, targets described in this website or the performance or profitability of any investment will be achieved. You understand that investing in securities and other financial instruments involves risks that may affect the value of the securities and may result in losses, including the potential loss of the principal invested, and you assume and are able to bear all such risks. In no event shall BBH or any other affiliated party be liable for any direct, incidental, special, consequential, indirect, lost profits, loss of business or data, or punitive damages arising out of your use of this website. By clicking accept, you confirm that you accept to the above Important Information along with Terms and Conditions.
1BBH sponsors UCITS Funds registered in Luxembourg, in certain jurisdictions. For information on those funds, please see bbhluxembourgfunds.com