Two thirds of UK businesses are family owned - 4.7 million in total, of which over 17,000 are medium and large businesses. They generate over a quarter of UK GDP. In 2015, the family business sector paid £133 billion in tax, 20% of UK government revenues. Family firms employ almost 12.2 million people in the UK – 47% of private sector employment.
Both family and non-family staff report a greater sense of loyalty to family businesses. They also tend to be more committed to the success of the business and are more passionate about what the business stands for.
But there can also be challenges. Everyone knows about the importance of good boardroom dynamics in running a successful business, when you add in the complications of working with blood relatives and the associated family dynamics, that can present its own issues.
That’s why the role of non-executive directors (non-execs) is so important on family boards – whether they are family members or non-family members.
This event, jointly produced by the FT Non-Executive Directors’ Club and the Institute for Family Business, is specifically designed to help non-execs currently sitting on family boards to be more effective in their role. It also looks at the difficult issue of how to recruit and induct good non-execs who will add real value to the board.
It will also be valuable to executive directors sitting on family boards to help them to fully understand what they can get out of their non-execs and how to interact with them most productively.
- Understand the purpose of being a non-exec in a family business
- Understand the duties associated with the role
- Become more familiar with the softer skills needed to be an effective non-exec
- Gain insight into the relationship between family and non-family members
- Understand the interaction between executive and non-executive board members
- Discuss issues around successful recruitment with some leading experts and experienced non-executive directors
- What is the role of a non-executive director?
- What do family businesses gain from having non-execs?
- What are the common concerns amongst family members of having non-family non-execs and how to mitigate them?
- What can non-execs do to help to develop an effective strategy?
- Board culture and behaviour
- How to develop a strategy for recruitment
- What does a good induction programme look like?
- What to look for in both family and non-family non-execs
Hugh was elected to the Clarks Board in 2005 as a Family Non-Executive Director. As a Board member Hugh has served on the Nomination and Audit Committees and currently sits on the Share Valuation Committee and Chairs the Remuneration Committee. Alongside the traditional role of the NED, he looks to articulate, as one of two family Directors on the Board, the family Vision, Values and perspective on long-term stewardship to the Board and to the business. In September, when the two Executive Directors departed the business, he was appointed to a special Governance Committee and since then has been more closely involved in the business. The role of the Governance Committee is to provide support and challenge to the Executive Chairman and visibility to the Board.
Hugh began his career at K Shoes (part of C & J Clark Ltd) as a graduate trainee. His first job was running a small stitching factory in Shap, Cumbria making uppers for women’s shoes. He spent eleven years at Clarks, mostly in manufacturing, sourcing and in men’s range management. In 1996 Hugh joined Rohan, an outdoor clothing company, with responsibility for their sourcing operations. He stayed with Rohan after it was sold by Clarks and was there for twelve years. He became Managing Director and brought in new private equity owners. In 2008 after a brush with cancer he decided he wanted to do something different and left Rohan and spent a period at a small nautically inspired clothing business called Quba as an investor and NED.
William Jackson Food Group×
William Jackson Food Group
Christopher was a fifth generation chairman of his family’s business, William Jackson Food Group, based in Hull, between 1995 and 2007. He currently chairs two family businesses as a non family chair – in Hull and in Dublin. He speaks at UK and international family business courses and conferences – and was one of the founder trustees of the IFB in 2001, serving on the board until 2012. He also chaired the IFB’s Governance forum.
Incoming ChairmanSee bio
Berry Bros & Rudd×
Berry Bros & Rudd
Lizzy Rudd started her career at Berry Bros & Rudd in the marketing team, where she was responsible for building the global reputation of the firm’s renowned whisky brand Cutty Sark.
When Lizzy left the company almost a decade later to concentrate on her young family, she was appointed to the Board as a Non-Executive Director. Following the appointment of Simon Berry to the role of Chairman, Lizzy was appointed as Deputy Chairman. On 1st December 2017, Lizzy will take over from Simon Berry as the Chairman of Berry Bros. & Rudd.
Lizzy has played a fundamental role in the establishment of the Family Board which sits alongside the Executive Board, and has played an integral part in the work carried out on the restructuring and governance of the Executive Board.
With the appointment of a new CEO to the business in 2015, Lizzy has also been central in communicating the vision of Berry Bros. & Rudd on behalf of the Rudd and Berry families. This vision has been essential in guiding the planned direction of the company and feeds directly into the overall strategy for Berry Bros & Rudd.
CBE, ChairmanSee bio
Bibby Line Group Limited×
Bibby Line Group Limited
Upon graduating from Trinity College, Dublin, Paul’s career included 25 years with ICI PLC where he was a Main Board Director and 10 years with Wates Group, a private Family-owned Construction and Property Company, initially as Chief Executive and latterly as Chairman and Chief Executive.
Paul Drechsler was appointed to the Board of Bibby Line Group Limited as Chairman Designate in July 2014 and was appointed Chairman at the Group’s AGM on 9 June 2015.
His other appointments include: President of the CBI, Chairman of Teach First, Chancellor of Teesside University, Member of The Advisory Board at Trinity College, Dublin, and Non-Executive Director of Business in the Community. Paul was Non-Executive Director of Essentra PLC until April 2015.
Paul speaks a number of languages, including Portuguese, Spanish, German and a little French.
He is married with two sons and one daughter and has held senior business positions in South America and the USA.
Senior Client Partner, Managing Partner, Board & CEO Services, EMEASee bio
Senior Client Partner, Managing Partner, Board & CEO Services, EMEA
Richard is a Senior Client Partner in Korn Ferry Whitehead Mann’s London office. He is also Managing Partner, Board & CEO Services Practice for Europe, Middle East and Africa (EMEA).
Prior to joining Korn Ferry, Mr. Emerton spent eight years with another global executive search firm, where he held various leadership positions, including head of the Board & CEO practice for the United Kingdom and head of the EMEA leadership consulting practice.
Over the last eight years, Mr. Emerton has worked on a wide range of executive and non executive search assignments, and leadership development projects, including a number of high profile board reviews. His clients range from Fortune 100 and FTSE 100 companies, to major global consulting and private equity firms.
Before moving into executive search in 2002, Mr. Emerton was a managing partner of energy, utilities and infrastructure for Arthur Andersen Consulting EMEIA and a member of the executive board of Andersen Business Consulting for the region.
Mr. Emerton studied law at Oxford University, where he gained a rowing Blue and is a fellow of the Institute of Chartered Accountants
A member of the 2nd generation, Andrew Osborne is Chairman of Osborne having previously served as Finance Director and Chief Executive. He has a degree in Engineering Science from Oxford University and is a Chartered Accountant. He is a director of the IFB and Chairman of national charity WellChild. He was also a non-Executive Director of Charter International plc, a FTSE 250 engineering company until 2011.
Osborne is one of the UK’s leading family-owned construction, civil engineering, property services, development and offsite manufacturing companies, delivering projects for clients in education, affordable housing, commercial property, healthcare, highways and rail. Founded in 1966 by civil engineer Geoffrey Osborne, it employs over 1,000 people, has nine offices in the southern half of the UK and turnover was £348 million in its last financial year.”
Julia Thompson is a Non-Executive Director and family member of Ringtons Ltd. She joined the board in 2013. Most recently Julia was a Partner at Ridley Park Capital, a global long-short equity fund. Prior to this, she was the Senior Analyst at the Eurohedge nominated Paragon Fund at Polar Capital and an Analyst at Fidelity Investments specialising in the financial sector. Julia began her career at Merrill Lynch on the European Equity Sales Desk before moving to the Equity Derivatives team. She is a CFA charter holder and graduated with a First class honours degree in Economics with French from the University of Nottingham. Julia has three children and lives in London.
Chair in Sustainable and Ethical EntrepreneurshipSee bio
University of York×
Chair in Sustainable and Ethical Entrepreneurship
University of York
Professor Carole Howorth is the University of York’s Chair in Sustainable and Ethical Entrepreneurship. She was previously with Bradford University School of Management where she was Professor of Entrepreneurship and Family Business, Associate Dean for Research and Dean of the Faculty of Management and Law. Carole researches entrepreneurship in family and social contexts and chairs the Global STEP Family Enterprising Project working with 40 universities around the world to examine successful transgenerational entrepreneurship practices within large family businesses. She is Academic Advisor to the Institute for Family Business Research Foundation.
Carole was a mature entrant into higher education, having left school at 16 and founded her first business at the age of 19. She worked at Nottingham University as a lecturer in entrepreneurship and corporate finance before joining Lancaster University Management School to specialise in family businesses, becoming Professor of Family Business and Entrepreneurship and founding director of the LUMS Centre for Family Business.
Chief ExecutiveSee bio
Joined the Company in 1991. Was Company Secretary until July 1994 and Tied Trade Director until 1999 when he was appointed Managing Director; he was appointed Chief Executive in 2003. He is a Barrister-at-law and was a Management Consultant with the COBA Group from 1987 to 1991. He is a Non-Executive Director of the St Austell Brewery Company Ltd and a trustee of the Leeds Castle Foundation. He was Chairman of the British Beer and Pub Association until December 2015 and then became Chairman of Visit Kent from this date. In July 2016, he was awarded an Honorary Doctorate from the University of Kent.
A member of the 3rd generation, Chris is a member of the Family Council and a Family Non-Exec Director on the NG Bailey’s Board.
As the business transitions away from family to independent executive leadership, much of Chris’s role is around ensuring the views of the family are represented at the Board and within the business, whilst at the same time ensuring the family understand the day to day challenges, opportunities and constraints affecting the business’s operations.
NG Bailey is 97 year old family business operating in the Engineering, IT and Facilities Services sectors. UK based, it employees 3000 people with a sales revenue of £500m.
Global DirectorSee bio
FT Career Management×
FT Career Management
Steve has 24 years experience in the commercial departments of global news content providers, firstly with The Telegraph Media Group where he ran various vertical sector print and digital publications and latterly with The Financial Times, where he is currently the Global Director of Financial Times Career Management (FTCM). His remit includes the running of exec-appointments.com, the FT Non-Executive Directors' Club and the FT Non-Executive Director Diploma and the Business Education franchise. He has been involved with the FT NED Diploma from conception through to it's current state of being the most recognised, robust and credible formal qualification for independent directors in the world.
The Financial Times
1 Southwark Bridge