Private companies

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  Insight

  2023 Private Company Board Survey Insights

  To gain a better understanding of the challenges facing private company boards, the KPMG Board Leadership Center surveyed nearly 600 private company directors.

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  Insight

  On the 2023 private company board agenda

  Eight issues for private company boards to keep in mind as they carry out their 2023 agendas.

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  Insight

  Directors Quarterly: April 2022

  Board considerations related to the Russia-Ukraine war, developments in climate reporting and oversight, and the global supply chain environment.

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  ESG and the portfolio company board

  The shifting business environment will require portfolio company directors to consider how ESG risks and opportunities are overseen in their boardrooms.

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  On the 2022 private company board agenda

  Eight issues for private company boards to keep in mind as they consider and carry out their 2022 agendas.

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  On the 2021 private company board agenda

  Drawing on insights from our work and interactions with public and private company directors and business leaders, we’ve highlighted nine items for private company boards to consider as they focus their 2021 agendas.

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  Questions for the board with a SPAC in sight

  Directors and management of private companies considering a sale to a special purpose acquisition company should be aware of the opportunities as well as the oversight-related challenges and tradeoffs a transaction may present.

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  Looking to the future of long-term investing

  Harvard Business School professor Victoria Ivashina discusses the outlook for private equity investing and the impact on governance and oversight.

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  Private company director resources for COVID-19

  Resources and insights for private company owners and corporate directors amid the challenges presented by COVID-19.

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  Closing the gaps in portfolio company board effectiveness

  Investors’ ability to assess strategy and operations at their portfolio companies is largely dependent upon the effectiveness of their portfolio company boards.

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  Defining ESG metrics that matter for private equity portfolio companies

  While the impact on private company boards, management, operations, and disclosure varies—and largely dependent on ownership—a shift is apparent in how institutional investors are directing capital and increasing expectations for private company reporting on ESG.

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  Insight

  The portfolio company lead director

  The private equity portfolio company lead director can be key to building board agendas, serving as a mentor to the CEO, and leading oversight of strategy development and execution.

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  Matrix thinking

  For young and growing companies, particularly those backed by venture capital funds, board building is often more informal and less strategic. Yet a long-term approach to building a strong board as the company grows can make a difference.

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  Insight

  Getting ahead of sexual harassment risk

  Discussion about board oversight of sexual harassment issues often comes up only after public allegations have thrown the company into crisis.

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  Insight

  Accounting for growth

  As an increasing number of firms are driven by intangible, knowledge-based assets and are more frequently funded through private investors, accounting choices are expected to play a more significant role in a company’s success.

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  Insight

  Getting a start-up CFO up to speed

  For a CFO of a new start-up company, this is a time of tremendous opportunity. Roles and responsibilities are being formalized, processes and controls are being implemented, and cultures and capabilities are being transformed.

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  Expediting the CEO assessment

  Given the expected five- to seven-year holding period for portfolio companies, boards may be able to avoid having to make a switch in two years by being more proactive in assessing the CEO early in the ownership period.

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  Diversifying portfolio company boards

  Diversifying the composition of private-equity portfolio company boards is a significant challenge, yet opportunties to change are just as abundant for these firms as they are public company boards.

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  Building a foundation for growth: Governance in investor-owned private companies

  In collaboration with the KPMG Board Leadership Center, the National Association of Corporate Directors has produced Building a Foundation for Growth: Governance in Investor-Owned Private Companies.

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  Taking off the jobs act training wheels

  Nearly 90 percent of U.S. companies that have gone public since the Jumpstart Our Business Startups (JOBS) Act was passed have taken advantage of the Act’s reduced disclosure provisions.

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  Why good governance attracts investors

  In a start-up climate that is becoming more attuned to company culture, many venture investors we work with say that a working knowledge of corporate governance for early-stage company founders is a critical factor for funding negotiations

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  Insight

  A stakeholder-centric approach to private equity investment

  Sunny Vanderbeck, a managing partner and co-founder of Dallas-based Satori Capital, is trying to prove that a stakeholder-centric approach to private equity investing can generate returns at or above market expectations.

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  Insight

  Building and maintaining the 'right' board

  Getting board composition right is a challenge no matter the company size or ownership structure. Many private companies, however, face a different set of challenges than those encountered by their public company counterparts.

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  Sustaining a successful family business

  How does a director successfully govern a family business as both the family and the business evolve? It’s a critical question and an ongoing challenge for every family-run company, and one that Joseph Kanfer, the chair and CEO of GOJO Industries, and his daughter Marcella Kanfer Rolnick, who serves as vice chair, are intensely focused on.

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  Insight

  A delicate balancing act for private equity portfolio company directors

  For former executives, the transition from managing a company on a day-to-day basis to serving on a board can be difficult. This is especially challenging at private equity (PE) portfolio companies where the dividing line between C-suite and boardroom is often porous by design.

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  Insight

  To avoid the spotlight, focus on controls

  If a startup fails, it ought to be for business reasons and not on regulatory issues or internal control weaknesses.

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  Insight

  New law creates new risks for partnership investments

  On November 2, 2015, Congress enacted legislation that fundamentally changes the landscape of partnership audits.