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Board Composition for Closely Held Businesses 2024

Product ID: CA3740R2
Presented By: State Bar of Wisconsin PINNACLE

This program is an excerpt from the 9th Annual Closely Held Business Update.

Compose yourself

When a closely held business faces a leadership transition, crisis, merger, acquisition, or sale, the right board of directors can play a key role in providing oversight, rational decision-making, and stability. Understanding how to structure the board of directors for closely held businesses is crucial for ensuring proper governance, accountability, and success. 

At Board Composition for Closely Held Businesses, get a comprehensive look at a board of directors' legal and strategic roles. Delve into statutory guidelines under Wisconsin law and address key considerations, including:

  • The responsibilities and powers of a board as outlined in the Wisconsin Statutes, focusing on fiduciary and legal oversight
  • Important board functions, including business strategy, budgeting, and risk management
  • The progression of family business boards, from compliance boards to more complex structures, including succession planning and the benefits of incorporating outside directors
  • Board member selection and strategies for ensuring a balanced mix of expertise
  • The importance of board evaluations and legal protections provided to board members 
Read More ↓

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Pricing

Member $99.00

Non-Member $149.00

Credits

1 CLE

Date and Time

Tuesday, December 03, 202412:00 PM - 12:50 PM CT

Add to Calendar 12/3/2024 12:00:00 PM 12/3/2024 12:50:00 PM America/Chicago Board Composition for Closely Held Businesses 2024

This program is an excerpt from the 9th Annual Closely Held Business Update.

Compose yourself

When a closely held business faces a leadership transition, crisis, merger, acquisition, or sale, the right board of directors can play a key role in providing oversight, rational decision-making, and stability. Understanding how to structure the board of directors for closely held businesses is crucial for ensuring proper governance, accountability, and success. 

At Board Composition for Closely Held Businesses, get a comprehensive look at a board of directors' legal and strategic roles. Delve into statutory guidelines under Wisconsin law and address key considerations, including:

  • The responsibilities and powers of a board as outlined in the Wisconsin Statutes, focusing on fiduciary and legal oversight
  • Important board functions, including business strategy, budgeting, and risk management
  • The progression of family business boards, from compliance boards to more complex structures, including succession planning and the benefits of incorporating outside directors
  • Board member selection and strategies for ensuring a balanced mix of expertise
  • The importance of board evaluations and legal protections provided to board members 
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This program is an excerpt from the 9th Annual Closely Held Business Update.

Compose yourself

When a closely held business faces a leadership transition, crisis, merger, acquisition, or sale, the right board of directors can play a key role in providing oversight, rational decision-making, and stability. Understanding how to structure the board of directors for closely held businesses is crucial for ensuring proper governance, accountability, and success. 

At Board Composition for Closely Held Businesses, get a comprehensive look at a board of directors' legal and strategic roles. Delve into statutory guidelines under Wisconsin law and address key considerations, including:

  • The responsibilities and powers of a board as outlined in the Wisconsin Statutes, focusing on fiduciary and legal oversight
  • Important board functions, including business strategy, budgeting, and risk management
  • The progression of family business boards, from compliance boards to more complex structures, including succession planning and the benefits of incorporating outside directors
  • Board member selection and strategies for ensuring a balanced mix of expertise
  • The importance of board evaluations and legal protections provided to board members 
Read More ↓

Catherine M. Gillman is Vice President and General Counsel at NCG Hospitality, a closely held hotel developer, owner, and operator based in Middleton, Wisconsin, and also serves on the Advisory Board of the company. She has served on the Board of Directors of two other privately held companies. She received a B.S. in Accounting (with highest honors) from the University of Wisconsin – LaCrosse, a master’s in business taxation from the University of Minnesota Carlson School of Management, and a J.D. (Summa cum laude and Order of the Coif) from the University of Minnesota Law School.  

Before joining NCG Hospitality in 2006, Ms. Gillman served as a law clerk for Judge John T. Noonan of the U.S. Court of Appeals for the Ninth Circuit in San Francisco, California, and worked in the business law department of Foley & Lardner’s Madison office. Prior to law school, she worked in the tax department of KPMG LLP in St. Paul and Minneapolis, Minnesota. She is a certified public accountant and a member of the State Bar of Wisconsin, licensed in both Minnesota and Wisconsin.

  • Gain a thorough understanding of the legal and fiduciary responsibilities of a board as outlined by Wisconsin Statutes
  • Ensure regulatory and legal compliance with a board that stays ahead of evolving laws and industry standards
  • Explore strategies for selecting board members with the right mix of skills and expertise to enhance decision-making
  • Understand the legal protections available to board members through exculpation and indemnification  
  • Address family conflicts by building a balanced board with independent perspectives that focus on the company’s long-term success
  • Acquire practice aids for advising clients on creating effective succession plans and recruiting board members
  • Business lawyers
  • Labor and employment lawyers
  • Solo and small firm practitioners 
  • General practitioners
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