What is the Role of Family on Board?

By John L. Ward

  • Share personal perspective fully, while assuring the independent directors have dominant “air time”
  • Express “informed consent” (as best as possible)
  • Represent ownership – values, vision, goals, board evaluation
  • Monitor and champion family owners’ values, vision and goals
  • Motivate independent directors
  • Motivate management, especially CEO
  • Support/champion decisions of the board
  • Assess confidence in governance system
  • Serve as cultural ambassador; be visible (reasonably)
  • Provide link with family as needed for owners’ input
  • Support reputation of firm with stakeholders

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