Warner Babcock discusses taking the initial steps towards building a family-owned business Board of Directors. Learn how to put in place steps that will help you form a Board of Directors to help guide your business towards a long-term, sustainable family asset, make difficult decisions, plan for the future, and reduce risks that can damage both the business and family’s relationships.
The topics covered include:
- What are the duties and responsibilities of a Board of Directors for family business?
- What is corporate governance, and how can it help?
- How should my Board of Directors meetings be conducted?
- Should I add people to the board who are not family members, friends, or personal advisors? If so, how should I do this?
Warner King Babcock is the CEO of the NYC Family Enterprise Center, a nonprofit providing educational programs for family enterprises, their families, board members, management, shareholders, trustees, and key constituencies throughout the NYC area. He is a Family Firm Institute Fellow and National Association of Corporate Directors Governance Fellow. Mr. Babcock has been a family council member, family business CEO, board member, shareholder, and a trustee of family trusts controlling family businesses. He was also been an adjunct faculty member teaching courses in Family Business Management to undergraduate students and Boards, Governance and Leadership with Entrepreneurial and Family Firms to MBA students. For over 20 year, Mr. Babcock led two private firms as the Chairman and CEO advising leading family businesses and family members owning businesses, as well as a few public and private companies and entrepreneurial ventures, focusing on development, innovation, growth, long-term strategic planning, and direct, private investments. Earlier in his career he founded a manufacturing company based on his patented inventions. He has also served on a number of boards and been the Chair of many board committees. Mr. Babcock currently serves on the Board of Directors for the International Association of Attorneys for Family-Held Enterprises, Inc.
Seating is on a first come, first seated basis.