Expectations are rising for private company boards, and directors often seek to understand whether their boards' governance practices align with those of their peers. The annual NACD Private Company Governance Survey presents findings on top governance trends and helps directors benchmark their boards’ practices. The survey includes data on board structure, composition, education, and board evaluations and can help directors identify areas for improvement in current governance practices, including succession planning and risk oversight.
Mixing family dynamics and business ownership is a fraught endeavor, even more so when the added ingredients include complicated family structures, complex business structures, and diffuse ownership. Join the author of the NACD study and other panel members as they offer insights into the priorities, challenges, and composition of private and family-owned company governance, including advisory boards, fiduciary boards, family councils, ownership councils, and other structures.
Barton Edgerton is NACD’s Senior Manager of Governance Analytics where he is responsible for generating insights to elevate board performance through data. Over the past 20 years, he has worked with a variety of boards, private equity firms, and Fortune 500 executives. His research experience includes nearly 10 years at CEB and as an academic at Tufts University. Barton completed his undergraduate work at Colgate University and has two master’s degrees and a Ph.D. from the London School of Economics.
Cady Zildjian MacPherson, Director, Zildjian
Cady Zildjian MacPherson joined Zildjian’s Board of Directors to continue the 400 year-old tradition of family leadership at the Company. Cady is the oldest of the 15th generation of Zildjian shareholders. Cady graduated from Colgate University in 2002. She worked as senior account manager at SmartPak Equine from 2003-2007. SmartPak, a company that manufactures and supplies supplements and accessories for performance horses, had been named to Inc. magazine’s list of the nation’s 500 fastest growing private companies in 2005 & 2006. Cady then joined the Zildjian Company in 2007 as Manager of Z Gear, the Zildjian line of apparel and accessories. In 2012, Cady left Zildjian to earn an MBA from Babson College. She returned to the company as a Director in 2018.
Kent Lundberg, Chair, Governance Committee, Lundberg Family Farms, CEO, Howard Van Dyke Family Enterprise
Kent Lundberg, Ph.D, P.E. serves on the board of directors of Lundberg Family Farms, which pioneered organic rice farming in the United States. He chairs the Governance and Nominations Committees. He is also CEO of Howard Van Dyke Family Enterprise, a smaller family farm on his mother’s side. He is a fourth-generation farmer and an NACD Board Leadership Fellow.
Outside of his family business duties, Dr. Lundberg is founder and president of Keeling Flight Hardware, Ltd. (an engineering consultancy), and he has taught on the faculty of M.I.T., Olin College, and Stanford University, specializing in analog circuit design and feedback control systems. He has worked with several start-up companies, and he serves on boards and committees of nonprofit organizations, including Land’s Sake Farm and The Museum of Science. He is a registered Professional Engineer in Massachusetts and a senior member of the IEEE, with a Ph.D. in electrical engineering from M.I.T. He owns 60 vintage Tektronix oscilloscopes, and he obsessive-compulsively collects analog synthesizers, technology artifacts, and classic textbooks on radar, nuclear energy, analog computing, and control.
Adrienne M. Penta, J.D., Executive Director, BBH Center for Women & Wealth, Managing Director, Brown Brothers Harriman & Co.
Adrienne Penta joined Brown Brothers Harriman in 2008 and is a managing director, as well as the executive director of the Brown Brothers Harriman Center for Women & Wealth (CW&W). Ms. Penta led the creation of the CW&W, which supports women as they create and manage wealth and seeks to create a dynamic and inclusive environment where women can engage in conversations about wealth, family and values. Ms. Penta provides women with the investment, planning and philanthropic resources they need to navigate transitions, help the next generation thrive and plan for the succession of privately-owned businesses.
Ms. Penta serves on several boards, including New America’s Better Life Lab Advisory Council, Women’s Philanthropy Institute at the Lilly School of Philanthropy Advisory Board, the Massachusetts Women’s Forum Board of Directors, the Winsor School Board of Trustees, the Boston Foundation Professional Advisors Committee (chair) and the Boys and Girls Club of Boston (BGCB) Board of Trustees. In addition, she speaks and writes on a variety of issues related to women and wealth, wealth planning and family communication about wealth and values.
Prior to joining BBH, Ms. Penta practiced at the law firm of Choate, Hall & Stewart LLP in Boston. She received her J.D. from the University of Virginia School of Law, where she was the executive editor of the Virginia Tax Review, and her B.A. in history and political science from Johns Hopkins University, where she was elected to Phi Beta Kappa.