FINANCE Alumni: Family Firm Succession

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- 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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FINANCE Alumni: Family Firm Succession

  1. 1. Family Firm Succession June 27th 2013June, 27 2013
  2. 2. FINANCE ALUMNI BOARD Vlerick Alumni Offices: Reep 1 - 9000 Gent - Belgium + 32 (0)9 210 98 18 www vlerickalumni comwww.vlerickalumni.com
  3. 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. 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. 5. M D RiddMrs. De Ridder Guberna
  6. 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. 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. 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. 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. 10. 11 Sh h ld Board of di t Share- holders Shareholders directorsholders Board of DirectorsManagement Directors Management htsreserved Family ©2012Allrig
  11. 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. 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. 13. 14 THANK YOU !THANK YOU ! Liesbeth De Ridder S t lSecretary general GUBERNA liesbeth.deridder@guberna.be htsreserved©2012Allrig
  14. 14. M S fi L tMrs. Sofie Lerut Lawyer at Eubeliusy
  15. 15. M L i C ffMr. Louis Cauffman Owner of Integrative Management Instituteg g
  16. 16. Family Firm Succession: keys to success  Louis Cauffman www.louiscauffman.com
  17. 17. Challenges & SkillsChallenges & Skills • For theFounder‐OwnerFor theFounder Owner • For the Successor
  18. 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. 19. Louis Cauffman • FamilyBusinessPsychologistFamilyBusinessPsychologist • Marcel Habetslaan 31 3600 G• 3600 GENK • 0032 89 38 33 22 • www.louiscauffman.com • Twitter  @louiscauffmanTwitter  @louiscauffman
  20. 20. M Ch i t’l J iMrs. Christ’l Joris Chairman of ETAP Lightingg g
  21. 21. Family Firm SuccessionFamily Firm Succession ETAP Christ’l JORISChrist l JORIS President
  22. 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. 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. 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. 25. ProfessionalismProfessionalism Management l iEmployee representation Board Shareholders Team President/CEOTeam President/CEO
  26. 26. Q&A Finance Alumni Your Financial NetworkFinance Alumni, Your Financial Network
  27. 27. Thank you Finance Alumni Your Financial NetworkFinance Alumni, Your Financial Network
  28. 28. Reception offered by ING Finance Alumni Your Financial NetworkFinance Alumni, Your Financial Network

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