Effective Governance Critically Important To Success Of Family-Owned Businesses, Details WCD And KPMG Report

NEW YORK, May 5, 2015 /PRNewswire/ -- Representing one third of the S&P 500 Index firms and nearly 20% of the Fortune Global 500, family-controlled companies wield increasing influence over the economy and public mind share. A new report from KPMG and WomenCorporateDirectors (WCD) explores the particular governance issues around these companies and how their boards can better position family firms to last the generations.

The report—Enduring Across Generations: How Boards Drive Value in Family-Owned Businesses—includes insights, lessons learned, and practical governance recommendations, and shares views from owners, board members, executives, and advisors with decades of experience in family business across five continents.

"From helping to define and calibrate the strategy, grooming future leaders, and navigating family dynamics, to bringing independent perspectives into the boardroom dialogue, an effective board can be an invaluable asset to a family-owned business," said Sue Townsen, KPMG Partner and Chair of KPMG's Women's Advisory Board. "We hope that this report will help both family shareholders, as well as outside directors of family businesses, to navigate the particular challenges that their companies face."

"Given that family-owned businesses represent a significant proportion of total business globally, we think WCD members and other global directors will be greatly served by the insights and practical advice offered by this paper," said Susan Stautberg, CEO, Global Co-Chair, and Co-Founder of WCD.

Enduring Across Generations is being released in conjunction with the inaugural WCD Family Business Governance Institute on May 5^th in New York.

"Governance and board-related issues are challenging subjects for many companies,  and we think the learnings in this report are essential for the many private, family-owned businesses with which KPMG's Private Markets Group works," said Tom Duffy, KPMG's National Managing Partner for Audit. 

About KPMG LLP
KPMG LLP, the audit, tax and advisory firm (www.kpmg.com/us), is the U.S. member firm of KPMG International Cooperative ("KPMG International"). KPMG International's member firms have 162,000 professionals, including more than 8,600 partners, in 155 countries.

About WomenCorporateDirectors (WCD)
WomenCorporateDirectors (WCD) is the only global membership organization and community of women corporate directors, comprised of more than 3,500 members serving on over 6,500 boards in 68 chapters around the world, with many more slated in the next two quarters. The aggregate market capitalization of public companies on whose boards WCD members serve is $8 trillion – if WCD were a country, its economy would be the world's third largest, behind only the U.S. and China. In addition, WCD members serve on numerous boards of large private companies globally.                                                                   

SOURCE KPMG LLP

Related Links

http://www.kpmg.com/us

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