How should you select family members for governance roles? Is it based on their influence in the family? Or the generation they belong to? Do you give a role to a family member to keep them appeased?
The process for choosing family members suited for governance roles is tough. The wrong choice can cause unresolvable conflict that disrupts family unity and hurts the business. How do you make the best decision for the family and business? Joe Astrachan and Claudia Binz Astrachan tackle this question in “Selecting and electing family members for governance roles: Why the ‘right’ choice may not always be the obvious one.”
From this article, you’ll come away with six strategies for making informed decisions about family involvement in governance roles. What’s the first strategy?
Understanding where your family is and what it needs.
Read about how to select family members for governance roles here.
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