Family CEO Board Structure

Balancing Family challenges, expectations, and business needs is quite challenging for the head of the family. But it needs to be addressed.
Family and Business can come across unexpected events, which need to be resolved with maturity and acumen.

Who is the Family CEO

Families in Business are impacted by investments, insurance, estate planning, extramarital affairs, divorce, death, next generation mentoring, succession planning, dividend distribution, wealth transition, financial transparency, legal matters, philanthropy, mutual trust, and several other reasons.

An independent professional is required who can manage the business and coordinate the family, with equal ease, called the Family CEO.

The Family CEO is an experienced expert who can be trusted to manage family wealth while the family members can enjoy the same.

Role of the Family CEO

The Family CEO is a unique position in the family business. It is quite different from the traditional corporate CEO. Family CEOs perform roles that are beyond managing finances.

Key responsibilities of the Family CEO:

In addition to being entrusted with family personal, shared assets, they perform functions to maintain the resilience and vitality of the family beyond wealth. The other responsibilities are:

1. Developing a long-term Business vision that is well aligned with Family Goals
2. Succession Planning by mentoring and coaching the next generation
3. Managing healthy relationships with family members, external advisors, and stakeholders
4. Recruiting, developing, and retaining a talent pool that can execute the Strategic Road map designed to attain family goals

Who can be a Family CEO

A complete combination of skills and experience is required to qualify as a Family CEO.

The Family CEO must:

Have sound knowledge in Financial & Risk management
Possesses great leadership qualities for leading a team
Be extraordinary in communication and interpersonal skills
Be trustworthy, discreet, and respectful
Take decisions with confidence and proactiveness
Share his views with logic and assertiveness
Commit himself to avoiding disruptions in achieving family goals

Benefits of a Family Business CEO

A Family CEO is the most important person in the Family Business, who helps Family Businesses benefit in several ways. The Family CEO

Is the most trusted, experienced expert for financial decisions
Balances family complexities and business challenges
Can be a sounding board in case of conflicts, and can avoid the status quo
Mentors the next generation without bias
Bridges Family expectations and Business goals with calculated risk
Is a progressive and visionary leader for shaping the Family business for generations

NILESH ARORA:

Nilesh Arora is a globally known Family CEO who assists Families in Business, growing, managing wealth, and remaining completely together.

Nilesh Arora is BTech. (Mech), IIM – Ahmedabad Alumnus, Certified Corporate Director CCD®, Certified Management Consultant CMC®, having more than 20 years of global experience in the field of Strategic Management, Family Business Consulting, Operational Excellence and Business Excellence.

As a Global Family Business Consultant and Executive Advisor to several Family-Owned Businesses (FOB’s) he has assisted more than 100 families and 250 organizations to date, across Africa, Middle East & Asia (AMEA) in manufacturing as well as the service sector, enhancing their revenues and equity value.

Specialities: Family Business Advisory, Business Succession Planning, Entrepreneurship, Business Coaching, Operational Excellence and Business Excellence