Private Company Director Magazine

Private Company Director is a publication from MLR Media. It offers valuable insights through digital channels, magazines, and events aimed at directors of public and private companies, leaders of multigenerational family businesses, and C-suite executives. MLR Media focuses on equipping these professionals with the knowledge and skills they need to thrive in their positions.

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Articles

Does the CEO Know?

1 month ago | privatecompanydirector.com | Bill Hayes

Before I began my tenure as editor in chief of this magazine, I didn’t think too much about business essentials when I interacted with a company. My experience with a company would be satisfying or it would be less so, but I only thought of it as something that happened to me, not as something that could be symptomatic of other people’s experiences as well.
The 2024 Private Company Board Compensation Survey

Sep 24, 2024 | privatecompanydirector.com | Bonnie Schindler |Susan Schroeder

Average total compensation for non-employee directors of privately held companies increased 14% in 2024, according to a new survey from Compensation Advisory Partners (CAP) and Private Company Director and Family Business magazines. Annual cash retainers for directors increased 7%.
An AI-Powered “Day in the Life” of a Private Company Director

Sep 23, 2024 | privatecompanydirector.com | Julia Klein |Nick Pericle

In boardrooms everywhere, the conversation around AI is heating up. We’ve seen countless headlines proclaiming, “It’s coming!” or “It’s here!” — asking companies, “Is your organization ready?” and cautioning, “Beware of cybersecurity!”There is both noise and hype on AI. The pace is astonishing, and AI’s rapid evolution has left us marveling at the possibilities while grappling with its implications.
What's In Your Skills Matrix?

Sep 15, 2024 | privatecompanydirector.com | Bill Hayes

I don’t know why, but I have always thought that “matrix” was a cool word. Maybe it is its connection to the Keanu Reeves movie where he dodged the bullets in acrobatic slow-motion. Or perhaps it is the fact that I’m a fan of the NBA and the nickname “The Matrix” was given to former Phoenix Suns forward Shawn Marion by analyst Kenny Smith because of his ability to contort his body mid-flight. Or maybe it is simply just fun to say.
Directors on AI, Technology and Corporate Social Responsibility

Sep 12, 2024 | privatecompanydirector.com | Bill Hayes

New board issues come up on a daily basis. Some come immediately to the forefront and some have to go to the back burner until other pressing matters are handled. But what are those pressing concerns that are garnering instantaneous attention? We asked several directors: What emerging issue is giving your board the most challenge at this moment, and what are you doing to tackle it?
Get Back to Basics on Understanding Company Risk

Sep 8, 2024 | privatecompanydirector.com | Bill Hayes

Maureen Bujno, managing director and audit & assurance governance leader for Deloitte & Touche LLP, believes that the first step in mitigating risk for a board is actually quite simple. It involves the procurement of two very basic tools: a pen and a notepad. “The first thing you should do is talk about and document the top 10 or 15 risks to your company,” says Bujno. “What could really disrupt the strategy of the business? What’s on the mind of your CEO?
Two Different Routes to CEO Development

Aug 29, 2024 | privatecompanydirector.com | Bill Hayes

Anyone who is familiar with the workings of their own GPS knows that there are often two different ways to get to the same destination. Stanley Chen, CEO of Telamon Corporation, and Randall Friedman, former president and CEO of Lebhar-Friedman, both believe in the board’s responsibility to help develop the CEO. However, human nature dictates that two distinct individuals have different ways of thinking about things.
Cultivating the Growth of a Beer Powerhouse

Aug 28, 2024 | privatecompanydirector.com | Megan Belcher

Yakima Chief Hops (YCH), headquartered in the verdant Yakima Valley of Washington State, has a rich history rooted in the heritage of hop farming. Founded in 1988, YCH has grown from a modest hop supplier into one of North America’s leading hop companies, thanks in large part to the strategic foresight and innovative governance of its grower-owners and its board.
The Unique (and Beneficial) Board Structure of Lil’ Drug Store Products

Aug 27, 2024 | privatecompanydirector.com | Bill Hayes

When you’re at work and you feel a headache coming on, you usually don’t just run out to the closest convenience store to buy an aspirin or ibuprofen. You probably would first ask your most trusted work compadre, “Do you have a couple aspirin?” That is the premise that drove Chris DeWolf’s father-in-law to start the business that would become family-owned, second-generation Lil’ Drug Store Products.
Giving the New CEO the Space to Bloom

Aug 15, 2024 | privatecompanydirector.com | Bill Hayes

Since 2021, Jon Wells has been the president and CEO of Midmark Corporation, a 109-year-old, family-owned company. His predecessor in the role of CEO was John Baumann. After transitioning the role of CEO, Baumann stayed on as a member of the Midmark board. Often, keeping the former CEO on the board is seen as a way to retain institutional knowledge.