Managing Family Enterprises: Succession & Board Dynamics with Barb Schimnowsky

In this podcast, Cory engages in a conversation with Barb, unveiling the intricate dynamics of family enterprises through Barb's extensive experience. Throughout their discussion, Barb sheds light on the varied yet common threads among family-owned businesses, particularly emphasizing the pivotal areas of succession and continuity planning. She underscores the often-overlooked aspect of thoughtful preparation, stressing the need for timely succession planning and urging families to commence this process well in advance.Barb's profound expertise shed light on the nuances of integrating external directors into family enterprises and the potential challenges that may arise during this process. The necessity for board evaluations, addressing potential dysfunctions, and aligning with family values emerged as key themes. Moreover, the conversation explored the role of the board chair, emphasizing the chair's responsibility to ensure everyone's voice is heard, thus fostering an environment of mutual respect and productivity.Throughout the conversation, Barb offered practical insights, emphasizing the delicate balance between control and integrating external perspectives. Her suggestions included mentorship programs, tailored coaching, and the integration of external voices, all aimed at guiding the next generation and facilitating smooth transitions within family enterprises. Furthermore, her approach emphasized a thorough understanding of the organization's current state, bridging alignment gaps, and preparing for the seamless integration of high-powered management teams.About Barb SchimnowskyBarb Schimnowsky is a Partner and leader in WATSON’s Board Director and Executive Search practice, boasting a robust background of over 25 years in executive search and human resources. Renowned for her expertise as a Certified Management Consultant and Family Enterprise Advisor, Barb's reputation stems from her exceptional ability to identify and recruit senior executives. Her personalized approach ensures a tailored match for every Director, Chair, and executive search, establishing her as an unparalleled connector between clients and their ideal candidates. During her tenure at KPMG, spanning two decades, Barb honed the delicate art and science of executive search, mastering the nuanced balance required for success.Throughout her career, Barb has triumphantly concluded numerous recruitment endeavors, placing adept candidates in diverse senior management and executive roles across various sectors and functions. Recognized for her commitment to understanding each client's needs and business, Barb is often perceived as an integral part of her teams. Outside her client engagements, she channels her passion for advancing the human resources domain by actively contributing to publications and groups within the executive search and HR sectors. Barb's affiliations include memberships in the Canadian Association of Management Consultants, Family Enterprise XChange, and the BC Human Resources Management Association. Her extensive community involvement also spans past Board positions in significant organizations like the Abbotsford Police Department, KidSport Abbotsford, 2004 BC Summer Games, Pacific Sport Fraser Valley, and the Surrey Library Board. Her contributions to the community have been recognized among Abbotsford's Top 100 Most Influential People, highlighting her multifaceted impact and commitment beyond her professional endeavors.Resources discussed in this episode:KPMG: https://kpmg.com/ca/en/home.htmlCMC: https://www.cmc-canada.ca/—Contact Cory Gagnon | Beacon Family Office at Assante Financial Management Ltd. Website: BeaconFamilyOffice.comLinkedIn: Cory GagnonLinkedin: Beacon Family OfficeEmail: [email protected] Barb Schimnowsky | Watson Board Advisors: Website: https://www.watsoninc.ca/ https://www.watsoninc.ca/team_member/barb/LinkedIn: https://www.linkedin.com/in/barbschimnowsky/Email: [email protected] Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.