Topics of Family Business Governance: Insights on Structures, Strategies, and Executives

This book focuses on the role of the board in family businesses and specifically on processes and topics of strategic importance. It comprises all the relevant topics which need to be addressed on a regular basis such as strategy development, financial management, and leadership. The pros and cons of each issue are elaborated. This is one of the few books which addresses family businesses from governance systems to the role of executives. The diverse set of examples carefully collected by the authors and an in-depth discussion on the topics provide readers with valuable insights to broaden and enrich the effectiveness of governance.

Hermut Kormann served as CFO (1989-99) and CEO (2000-08) of Voith, a 150-year-old German family enterprise. Prior to Voith, he held positions at Brown, Boveri & Cie. (currently called ABB) and Booz & Co., management consultants. Dr. Kormann has served on various supervisory boards of family enterprises. He advises owning families on issues of owner strategy. Dr. Kormann is a Visiting Professor at Leipzig University (Germany) and Professor at Zeppelin University (Germany) where he lectures on leadership, strategy, and governance in family-owned businesses.