Continuity and Succession Planning: 3 Steps to Reduce the Tension

Join Dave Juday, Director and Retired Chairman, IDEAL Industries, Inc., Charlie Carr and Belinda Sneddon, Managing Directors for PwC's US Family Enterprise Advisory Services group and David Shaw, Publishing Director of Family Business Magazine, as they discuss how to address the potential for tension in succession planning.

 Continuity and Succession Planning:  Three Steps to Reduce the Tension

Wednesday, September 19, 2018
  2 p.m. ET/11 a.m. PT
 
60 minutes

 

https://www.webcaster4.com/Webcast/Page/494/26971

Does this sound all-too-familiar?

“Dad, we need to talk about who should take over when you retire.”

“I should get more voting shares. I have worked harder in this business than any of my siblings.”

“We’re selling the company.  Only mom knew what was going on, and we don’t know how to manage this moving forward.”

Continuity and succession planning are critical to create a future legacy, but growing families in business struggle with a variety of challenges - defining when family members can work in the business, how profits are distributed, who serves on the board, or even how to plan for next generation leadership.  These can be difficult decisions and uncomfortable conversations, but with proper planning, families can reduce the tension and mitigate risks to their business and family relationships during times of transition.  This webinar will cover:

  • Common mistakes that families make in communicating and executing continuity and succession plans
  • Key factors to consider when defining their future legacy
  • Critical next steps to planning ahead  

Join Charlie Carr and Belinda Sneddon, Managing Directors for the US Family Enterprise Advisory Services group at PwC and David Shaw, Publishing Director of Family Business Magazine as they discuss how to effectively plan and support your family’s legacy. 

 


Speakers

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Charlie Carr

Managing Director, US Family Enterprise Advisory Services, PwC

Charlie Carr inspires families to achieve their legacy for the next 100 years.  
 
He leads the firm’s family enterprise advisory offerings, which includes solutions for families, their family business and family office. He leads projects in family and business governance, succession planning, setting up family offices, and performing diagnostic reviews of existing family offices to ensure they most effectively support the family and its desired legacy. 
 
Charlie has worked in professional services for over 25 years, as a consultant, banker and wealth advisor. For the last 15 years, he has worked exclusively with very wealthy families, their businesses and their family offices.
 
He is a frequent speaker and contributor on family office and succession topics, including working with Family Business Magazine in 2016 to produce five videos discussing family business basics.
He holds a Bachelor of Business Administration in Accounting and Management from Baylor University and is a CERTIFIED FINANCIAL PLANNER, with a Six Sigma green belt for process design.
 
Charlie coached youth baseball for 15 years and has developed and taught a personal finance class for high school students. He lives in Flower Mound, Texas, with his wife and three sons.
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Belinda Sneddon

Managing Director, US Family Enterprise Advisory Services, PwC

Belinda Sneddon is a Managing Director with the firm’s family enterprise advisory practice, which includes solutions for families, their family business and family office. She leads projects in family and business governance, succession planning, establishing family offices, and performing diagnostic reviews of existing family offices to ensure they most effectively support the family and its’ desired legacy. 
 
Belinda has over 25 years of experience as a consultant, multi-family office executive,  and investment professional. For the last 15 years, she has focused exclusively on advising and supporting wealthy families on issues of wealth transfer, governance, succession, investment policy and philanthropic initiatives as the Group Executive and National Practice Executive for U.S. Trust’s family office.  She has significant experience in the management of  family office functions including; fiduciary administration, investment oversight, operations and financial metrics.  Belinda is a frequent national speaker on a wide range of  family office and impact investing topics.
 
She holds a Bachelor of Business Administration in Finance and Marketing from the University at Albany – SUNY.
 
Belinda is an amateur musician and has a passion for arts education. She lives in Pelham, NY with her husband and two children.
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David Shaw

Publishing Director, Family Business Magazine

David Shaw is the publishing director of Family Business and its sister publication, Directors & Boards. With more than 30 years of experience in business-to-business and consumer media markets, he has served as an editor, publisher, publishing director, group publisher and group vice president of a variety of publications, trade shows, conferences and websites. Prior to founding GRID Media, David served as senior vice president for Phillips Business Information Inc., where he oversaw nearly 100 discrete media properties, and helped build the business from $35 million to more than $100 million in annual revenues. He is a frequent author and speaker on issues related to business-to-business media, multi-generational family businesses and private and public company governance. He is married, with two grown children, one serving in the Navy and the other in law school.

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Dave Juday

Director and Retired Chairman, IDEAL Industries, Inc.

Dave Juday was born in Sycamore, home of IDEAL Industries, Inc., the family-owned and controlled business since 1916. He joined the company in 1972 after college at Shimer and grad school at University of Chicago. Experience as a teacher, VISTA volunteer, and several years in a manufacturing company in Chicago proved to be important career steps prior to IDEAL.
 
IDEAL Industries, more than 100 years old, has over 1,200 employees and manufactures more than 6,000 products for the electrical, datacomm, OEM, wire processing, security, automotive, telecommunication and industrial markets. IDEAL has headquarters in Sycamore, Ill.; manufacturing plants are located in Sycamore and DeKalb, Ill.; Massachusetts; Canada; Ireland; England and China. International sales facilities are located in Canada, England, Germany, Australia, China, India, Brazil, Mexico and Puerto Rico.
 
Dave held several positions at IDEAL, from IT director, to salesman, to marketing positions, culminating with being named chairman in 1984. He held the CEO title for some portion of his 30 years as chairman.
 
The first part of his term as chairman included revising the role of the board, working with family to enhance and formalize the family governance systems to parallel corporate governance, and reevaluating markets being served. It led to a series of actions, including creating a Voting Trust and a stock redemption policy, both of which have become the backbone of future growth for the company and the family.
 
The middle portion led to several acquisitions that moved IDEAL into a broader reach into the data communications market, entered the environmental monitoring market, a greenfield operation in China, and novel approach to connection technology in the high current DC arena.
 
The final stage was focused on exiting the chairman role. He was able to recruit a very talented non-family member who heartily embraced the overall direction of the family and company, which led to a new level of involvement for the next generation of family leaders. Along with an extremely complex estate planning effort, IDEAL is well placed for growth for generations to come.
 
Dave has served on several boards from a community bank to an ag retailer, to a high-tech HVAC startup in the private sector. He served 10 years on the Illinois State Board of Education as well as the local school board. He has been active in support of the local community college as well as NIU. Economic development has been a real interest, having served DeKalb County, Illinois as well as Vilas County Wisconsin.
 
Since his retirement in 2014, he keeps up with happenings at IDEAL, overseeing a major construction project, serving on its board, and driving the estate planning initiative. He also owns a manufacturing incubator operation in Vilas County where he advises, and sometimes funds startups. He has five operations currently, with several having come and gone.

Benefits

• 60 minutes -- maximum value for time
• Completely FREE to attend 
• Opportunity for questions and feedback
• Unbiased third-party family business education 
• All participants receive a copy of the webinar materials after the event

Sponsor

PwC