We celebrated Canadian Family Businesses and Governance Excellence at the ICD SWO Event at the London Hunt and Country Club.

What an insightful evening with the Institute of Corporate Directors SWO fireside chat. My long-time friend, David Simpson of Ivey Business School at Western University joined me to discuss Canadian family businesses and their governance needs. Family businesses are vital to our economy, and their success requires tailored governance.

IDC alumni and family businesses were guests and, for me, the best part of the session were their questions to David.

Why Governance for Family Businesses is Unique
Family enterprises blend personal relationships, legacy, and wealth. David Simpson said, "A business is an asset". The best Trusted Advisors understand these tricky nuances—emotional ties, control, desire for legacy & intergenerational goals. It’s a balance between family harmony and business growth, and ICD experts will create the governance path for families to effectively manage their assets - business, portfolio, and yes, family.

Key Insights from the Evening
Sifton Properties Limited Success: The Sifton family’s family council, inclusive of spouses and non-active members, shows how structured communication and shareholder agreements can facilitate generational transitions while preserving unity.
Other Canadian Icons: From EllisDon’s professionalized boards to McCain Foods’ strategies for resolving leadership disputes, and the Weston family excellent oversight at George Weston Ltd. Loblaw, these cases demonstrate the power of governance in maintaining legacy.

Thank you to our National ICD sponsors: Deloitte KPMG Osler, Hoskin & Harcourt LLP Torys LLP and a shout out to our fantastic SWO sponsors Gowling WLG

For those who would like to discuss the discussion about Family Business and Governance, please contact me: Jacoline Loewen Burgundy Asset Management Ltd. https://lnkd.in/gnPQ6Pn3