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FINANCE Alumni: Family Firm Succession

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- Upcoming Events Vlerick Alumni …

- Upcoming Events Vlerick Alumni
- Liesbeth De Ridder, Guberna
- Louis Cauffman, Owner of Integrative Management Institute
- Christ'l Joris, Chairman of ETAP Lighting

Published in Economy & Finance , Business
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  • 1. Family Firm Succession June 27th 2013June, 27 2013
  • 2. FINANCE ALUMNI BOARD Vlerick Alumni Offices: Reep 1 - 9000 Gent - Belgium + 32 (0)9 210 98 18 www vlerickalumni comwww.vlerickalumni.com
  • 3. UPCOMING EVENTS Events Organizer Date Vlerick Alumni Sailing Cup MBA Alumni 20-22 September 2013Vlerick Alumni Sailing Cup MBA Alumni 20 22 September 2013 Meet the industry - Media : Content is king Finance Alumni September 2013 Vlerick Award Gala 2013 Alumni 19 October 2013
  • 4. AGENDA  Introduction  Mrs Liesbeth De Ridder Guberna – The importance ofMrs. Liesbeth De Ridder, Guberna The importance of governance  Mrs. Sofie Lerut, Lawyer at Eubelius – Essential questions for entrepreneurial familiesentrepreneurial families  Mr. Louis Cauffman, Owner of Integrative Management Institute – Emotional and psychological issues  Mrs. Chrit’l Joris, Chairman of ETAP Lighting – Testimonial  Q&A  Reception
  • 5. M D RiddMrs. De Ridder Guberna
  • 6. The relevance of governance f ffor succession in family businesses Liesbeth De RidderLiesbeth De Ridder Secretary General GUBERNA (Belgian Governance and Director’s Institute) s reserved (Belgian Governance and Director s Institute) © 2012 All rights
  • 7. 8 What is GUBERNA? - Belgian Governance and Director’s Institute - Chairman: Luc Bertrand, Ackermans & Van Haaren - Executive director: professor Lutgart Van den Berghe - Governance research & development of tools - Courses on board effectiveness and director effectiveness - Network of more than 1500 company directors htsreserved - Knowledge centre for policy makers both on Belgian and European level ©2012Allrig “Content inspires network, network inspires content”
  • 8. 9 What is corporate governance and where does it come from? “Power corrupts and power corrupts absolutely”Power corrupts and power corrupts absolutely “CG is about how a company is directed and controlled” (Si Ad i C db )(Sir Adrian Cadburry) htsreserved©2012Allrig
  • 9. 10 Corporate governance: underlying philosophy  Doing things right & doing the right things & at the right time  Not a goal on itself but a means  A t f ‘ l f th ’ f th t i d A set of ‘rules of the game’ for the governance tripod: responsibility and accountability htsreserved  Sunshine is the best of all desinfectants  One size does not fit all ©2012Allrig  Substance over form
  • 10. 11 Sh h ld Board of di t Share- holders Shareholders directorsholders Board of DirectorsManagement Directors Management htsreserved Family ©2012Allrig
  • 11. 12 Family businesses: what’s in it for me?  Add value to the business  Professionalisation: organising governance and family Professionalisation: organising governance and family governance  Structure follows strategy Structure follows strategy  Working with an active and effective board htsreserved  Risk management & reputation ©2012Allrig  Impact external directors on boardroom behaviour & culture
  • 12. 13 As to succession: tips and tricks from a governance perspective  Organise governance and family governance in tempore non suspecto  The role of external (independent) directors as mediators  Create a role for everyone! Create a role for everyone!  Anticipate, anticipate, anticipate! htsreserved  NEW! Vlerick Family Business Centre – prof. Hans Crijns ©2012Allrig
  • 13. 14 THANK YOU !THANK YOU ! Liesbeth De Ridder S t lSecretary general GUBERNA liesbeth.deridder@guberna.be htsreserved©2012Allrig
  • 14. M S fi L tMrs. Sofie Lerut Lawyer at Eubeliusy
  • 15. M L i C ffMr. Louis Cauffman Owner of Integrative Management Instituteg g
  • 16. Family Firm Succession: keys to success  Louis Cauffman www.louiscauffman.com
  • 17. Challenges & SkillsChallenges & Skills • For theFounder‐OwnerFor theFounder Owner • For the Successor
  • 18. tipstips • Offer & deserve trustOffer & deserve trust • Give & take is a learning process h diff• Respect the differences • Conflicts are normal • Forgiveness & constructive criticism • Show entrepreneurshipShow entrepreneurship • Communication
  • 19. Louis Cauffman • FamilyBusinessPsychologistFamilyBusinessPsychologist • Marcel Habetslaan 31 3600 G• 3600 GENK • 0032 89 38 33 22 • www.louiscauffman.com • Twitter  @louiscauffmanTwitter  @louiscauffman
  • 20. M Ch i t’l J iMrs. Christ’l Joris Chairman of ETAP Lightingg g
  • 21. Family Firm SuccessionFamily Firm Succession ETAP Christ’l JORISChrist l JORIS President
  • 22. Family Firm SuccessionFamily Firm Succession Succession planning can be a great opportunity  to create a multi generational institution thatto create a multi‐generational institution that  embodies the founder’s mission and values long  after he is goneafter he is gone. Entrepreneurial drive Ability to identify & to let go
  • 23. ETAP ll l hexcellent lighting – saving energy Founded in 1949 by 2 founders l t t– clear structures – clear values That pave the way for ‐ professionalism ‐ succession & transfer to next generations
  • 24. ContinuityContinuity Creation of structures on company level professional management– professional management – separation operational ventures & industrial patrimonium – holding structure (StAK) Creation of structures on shareholder level ‐ Shareholder “convention” ‐ charter
  • 25. ProfessionalismProfessionalism Management l iEmployee representation Board Shareholders Team President/CEOTeam President/CEO
  • 26. Q&A Finance Alumni Your Financial NetworkFinance Alumni, Your Financial Network
  • 27. Thank you Finance Alumni Your Financial NetworkFinance Alumni, Your Financial Network
  • 28. Reception offered by ING Finance Alumni Your Financial NetworkFinance Alumni, Your Financial Network