WebNike. This global giant may be a publicly-traded company, but it is still effectively controlled by the original founder’s family. Nike was started in 1964, and co-founder Phil Knight has been the face of the brand ever since. He and his son, Travis Knight, control more than 97% of outstanding class A shares. The board of directors in the family firm usually changes over generations and as the ownership of the firm progresses through three distinct stages. 2 Most family firms begin as Controlling Owner businesses where one person has voting control of the organization and makes most of the key decisions. During this … See more There is little debate about the most effective composition of the family business board at any stage. The addition to the board of … See more Most boards can best fulfill their duties by meeting once each quarter for one or more days. One meeting each year should be a joint board-management retreat mid-way in the … See more This is the most important duty on the list and the most typical weakness of a family business board. Boards should advise and help senior … See more Good boards balance their commitments to company and shareholder needs. For instance, the board should not necessarily authorize large dividends or help promote other shareholder … See more
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