E. Ritter & Co.‘s governance journey
The Arkansas company, now in its fifth generation, restructured its board and created a family council in a comprehensive process that began in 2007. A non-family member is likely to succeed the CEO.
By Stan Luxenberg
E. Ritter & Co. began as a farm established by Ernest Ritter in 1886. For the next century, Ritter and his descendants expanded the operation and lived near the company headquarters in Marked Tree, Ark. But by the time the fourth generation had taken ownership of the business, the family was spread around the country. When the fifth generation came of age, no one stepped forward to work in the business. Many family members in their 20s and 30s still owned stock, but they had little idea of the company’s history and purpose.
The lack of interest on the part of …
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