The Role Of Special Committees In Family-Owned Businesses


Brian Hoffmann wrote this bylined lead article about governance aspects of special committees in family-owned businesses, particularly in such matters as M&A. “Despite the clear value of special committees in mitigating litigation risk and ensuring proper corporate governance and decision making, family businesses have lagged behind their public company counterparts,” Mr. Hoffmann wrote. Such committees should be “recruited and integrated in to the board to have real benefit,” he continued, adding that being in the midst of an acquisition or derivative litigation “is not the time to recruit independent directors.”