Knowledge Center: Publication
Chief Executive Officer & Board of Directors
Independent directors for a family business3/3/2011 John S. Wood
Family-controlled businesses represent nearly 35% of Fortune 500 companies, and many have specialized needs when it comes to building their boards, greatly influencing the state of directorship today. The high profile of family-run or controlled companies from Wal-Mart to Motorola to Ford Motor (with Wal-Mart alone employing 1% of the U.S. workforce) shows that they attract the same level of attention from shareholders, consumers, regulators, and the press as other large public companies — while presenting higher stakes and unique issues for new directors.