New Guide for Family Businesses on Non-Executive Directors
14th September 2021
The Institute for Family Business (IFB) is proud to announce the launch of a new guide to help family businesses in the recruitment of Non-Executive Directors (NEDs). Aimed at businesses who are relatively new to working with independent directors, the guide covers all the necessary considerations for family businesses when taking NEDs on board.
From the recruitment process to ensuring the alignment of culture and values, the Non-Executive Directors in Family Business Guide is a one-stop-shop to support family businesses of all sizes and in all sectors.
Providing an in-depth insight into the valuable role that NEDs can bring to family businesses, the guide draws upon the knowledge and testimonies of advisers and business experts from across the family business sector, along with independent and family non-executives.
IFB Chairman Sir James Wates said:
“NEDs demonstrably add value to many businesses. They provide an inherently independent, outward-looking and expert perspective, and so can provide a valuable 'third leg', complementing the distinct perspective of family directors and executive directors. They can be particularly valuable for succession planning and managing intergenerational dynamics.
“This publication helps family businesses – especially those who have not yet incorporated NEDs into their governance – understand why NEDs are so valuable, and to think through how to recruit NEDs, articulate their responsibilities, and ensure they are delivering value for the company.”
IFB Director General Elizabeth Bagger said:
“We are very pleased to be publishing this guide on Non-Executive Directors (NEDs) in Family Business. The guide gathers the views and experiences of experts and experienced NEDs and aims to support family businesses with the recruitment, appointment and evaluation of their NEDs. It also invites family business owners to be clear about why they want and need NEDs and it sheds light on some of the important collaborations between NEDs and between the Board and the Family. We hope the guide will serve as inspiration for all family business owners.”
Join us on the 29th September for the online launch of the guide. Find out more here.
Download the free guide HERE.