From Tradition to Transformation: The Role of Outside Directors in Private/Family Firms
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NACD Nashville
Contact Us
NACD Nashville
Nashville, TN 37204
programs@nashville.nacdonline.org
571-367-3799
About The Event
September 16, 2025
Family businesses and private companies represent the backbone of the American economy, yet many operate without the benefit of independent board oversight that has become standard practice in public companies. As these organizations face increasing complexity, regulatory pressures, and multi-generational transitions, the decision to move “from tradition to transformation” by adding outside directors has never been more critical.
This exclusive program brought together seasoned governance leaders to explore the unique dynamics, challenges, and opportunities of serving as an independent director for closely held and family-owned companies. Whether you’re a current director seeking to expand your board portfolio into private companies, a family business leader considering board expansion, or a governance professional advising private clients, this program provided invaluable insights into one of the most significant yet underexplored areas of directorship.
Our distinguished panel addressed:
- The strategic motivations and triggers that lead family firms to establish formal external board structures
- The unique realities and relationship dynamics of serving on private-company versus public-company boards
- How independent directors contribute to strategic oversight and long-term value creation in closely held companies
- Approaches to risk oversight in family firms, including cybersecurity, technological disruption, and regulatory compliance
- The sensitive art of succession planning and talent development within family business structures
- Best practices for building high-performing board cultures that maximize the value of independent directors
- Future competencies and approaches needed to serve as “trusted catalysts” for private and family firms
Attendees left with:
- A clear understanding of the decision-making process that family firms use when considering independent directors
- Practical insights into the unique dynamics and governance challenges of private-company boards
- Strategies for building trust and providing objective oversight within family ownership structures
- Knowledge of current compensation and engagement models for private-company directors
Speakers
NACD Nashville
Contact Us
NACD Nashville
Nashville, TN 37204
programs@nashville.nacdonline.org
571-367-3799
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NACD Directors Summit™ 2026
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October 11-14, 2026
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| NACD and the NACD Chapter Network organizations (NACD) are non-partisan, nonprofit organizations dedicated to providing directors with the opportunity to discuss timely governance oversight practices. The views of the speakers and audience are their own and do not necessarily reflect the views of NACD. |
