Governance of privately-held and family-owned companies can present unique challenges. While the fiduciary obligations of board members are the same as for publicly-held companies, governance in private and family businesses is often not nearly as strong as for public companies, which misses a valuable opportunity to reduce risk and increase value. Too often, the boards of private and family businesses lack independent members, and leading governance practices are not utilized. In family companies, succession planning can be complicated by familial relationships, as well as by divorce, health issues, etc. However, there is a hopeful trend among privately-held and family-owned companies towards improving their governance by adding truly independent board members, and adopting stronger governance practices. Join us for a timely discussion on governance as it pertains to family-owned and privately-held businesses.
Eve Tahmincioglu is executive editor and digital director of Directors & Boards and Private Company Director magazines, and the digital director for Family Business magazine. She’s a SABEW award-winning journalist, most recently covering business for NBCNews.com and Today.com; and she was a writer/editor/digital director for DiversityInc. and Families & Work Institute. She’s been a long-time contributor to the New York Times and BusinessWeek, and her stories have also appeared in Kiplinger's, The Atlantic, Time, Knowledge@Wharton, and Harvard Business Review. She’s the author of "From the Sandbox to the Corner Office"; producer of the CareerDiva.net blog – named one of the top 9 must read job blogs by CareerBuilder; and was named one of the top 10 business journalists on Twitter by CNN and CareerBuilder. She is also a mentor for The Oped Project. Follow Eve at @CareerDiva, and follow @DirectorsBoards, @PrivateCoDir, and @FamBizMagazine.
Best described as the yellow brick road of life, Ivy Silver’s professional and personal life is guided by a few key principals – give everything you have to what you care about, bring excellence and compassion to what you do and learn all you can about doing your work well.
She began her career as one of countries youngest museum directors before returning to the Wharton School of Business to become a serial Entrepreneur. In 1981 Ms. Silver founded an industry leading employee benefit consulting firm with multiple profit lines for regional and national corporations, professional associations and non-profit organizations. As a thought leader Ivy was a frequent public speaker on trend setting insurance and risk management concepts, authored numerous articles for industry publications and was an advisor to such luminary organizations as Aetna, Prudential and UNUM insurance. The National Mediation Labor Relations Board highlighted her groundbreaking work with the trustees of the Amtrak Health and Welfare plan for creating change in an environment not previously known for innovation.
In 2008 Ivy sold her company, The Commonwealth Consulting Group, to publically traded Arthur J. Gallagher Company (AJG) where she worked until 2014.
Today, Ivy is a principal founder of Mily-on, a conceptual architectural products design that has recently been awarded a series of utility and a design patents for commercial lighting system. She has also formed Sparkplug Innovations, a design thinking and strategic re-visioning company doing work with privately held firms and is certified by The Institute for the Future as a practitioner of Forecasting and The Institute of Culture in Technology of Participation.
Ms. Silver received her Governance Fellowship designation from the National Association of Corporate Directors in 2013 and is an independent director of publicly traded Fulton Bank, the largest affiliate of Fulton Financial Corporation (FULT). Ivy is an Advisor to Recovery Record, a privately owned start-up mobile tech company, member of the private board CIMG and is currently chair of the Public Experience and Marketing Committee of The Academy of Natural Sciences of Drexel University where she serves on their executive and governance committees. Ms. Silver is the immediate past Chair of the Board of the Abington Health System Foundation, a member of the Innovations Committee of Jefferson Health, a board member of the Oda Foundation – an on the ground healthcare organization in Nepal and was recently elected to the Greater Philadelphia Culture Alliance Board of Directors.
Ms. Silver is a 2005 Pennsylvania’s Best 50 Women in Business honoree, the Women’s Way Leadership Award winner in 2006, and is a member of the Pennsylvania honor roll of Women Leaders for 1996. She is a dedicated member of Women Corporate Directors, the National Association of Corporate Directors, and The Forum for Executive Women.
As Founder and CEO of Silverman Leadership, Stan is a writer, speaker and advisor to C-suite executives. He writes a weekly nationally syndicated column on leadership, entrepreneurship and corporate governance in the Philadelphia Business Journal and 42 affiliated business publications across the U.S.
Stan is the former president and CEO of PQ Corporation, a global company operating in North America, South America, Europe and Asia Pacific in two core businesses – chemicals and engineered glass materials.
As a recognized thought leader, Stan has been an invited guest lecturer at the Wharton School of the University of Pennsylvania and at the LeBow College of Business and Close School of Entrepreneurship at Drexel University. He has served as a member of the faculty of Board Advisory Services of the National Association of Corporate Directors. He has been a speaker on leadership and governance issues at Private Company Governance Summits and at numerous other events.
Stan is vice chairman of Drexel University. He is the former chairman of Drexel University College of Medicine, and former chairman of the Soap and Detergent Association. He has served on the boards of numerous public company, private company, private equity company and non-profit boards. In addition to serving on the board of Drexel University, Stan is a board member of Friends Select School as well as Faith in the Future, the organization that operates the 17 Catholic High Schools within the Archdiocese of Philadelphia.
He began his business career as a chemical process engineer at Atlantic Richfield, subsequently acquired by BP plc. Stan joined PQ Corporation in 1971. Prior to being named as CEO of PQ in January 2000, he held positions in engineering, operations planning, marketing, sales and business unit executive management, including president of PQ’s subsidiary in Canada.
Stan earned a Bachelor of Science degree in chemical engineering and a MBA degree from Drexel University. He is also an alumnus of the Advanced Management Program at the Harvard Business School.