July 30, 2015

Our latest consultancy mission was with a large family owned industrial business, specializing in the manufacturing and distribution of furniture. We worked with the Family business owners on drawing a clear separation between governance and management functions and roles mostly through conducting the following: Establishing a Board of Directors, and its decision-making system; coaching the brothers and sisters of the 2nd generation to become effective Board members; restructuring the business units and redistributing the management roles and responsibilities between the  siblings; coaching each business unit manager to prepare their units’ business plan for Board approval; and also worked with the Board to establish a dividends policy, and to lay down the partnership rules.