Siblings and the Family Business

STEPHANIE BRUN DE PONTET is Senior Consultant of the Family Business Consulting Group, Inc., specializing in advising family enterprises facing important transitions. She has extensive experience working with sibling teams, developing training programs to educate next generation family members, and building the framework for next generation collaborations. In addition to her consulting work, Stephanie is the executive editor of the Family Business Advisor, and recently co-authored a book with Drs. Pendergast and Ward, titled Building a Successful Family Business Board. CRAIG E. ARONOFF is co-founder, principal, and chairman of the board of the Family Business Consulting Group, Inc., the founder of the Cox Family Enterprise Center and current Professor Emeritus at Kennesaw State University, USA. He invented and implemented the membership-based, professional-service-provider sponsored Family Business Forum, which has served as a model of family business education for universities world-wide.DREW S. MENDOZA is managing principal of the Family Business Consulting Group, Inc. He was the founding director of the Loyola University Chicago Family Business Center during which time his consulting work addressed family firm succession, family meetings, and developing high functioning sibling and cousin teams. As the managing principal of the family business consulting group, Mr. Mendoza is currently focused on business development, assessing client needs, and finding the most appropriate resource for clients and prospective clients. In addition to his consulting work, Drew presents on a variety of family business issues for family business centers, trade organizations and advisor groups. JOHN L. WARD is co-founder and senior advisor of the Family Business Consulting Group Inc. He is clinical professor at the Kellogg School of Management. He researches and teaches strategic management, business leadership and family enterprise continuity, governance, and philanthropy.

• Table of Contents Intro Why Should Siblings Journey Together Why this Transition is So Hard - The Role of Complexity Challenges and Opportunities Facing the Siblings Setting the Stage - The Role of the Founding Generation Managing the Outside Risk - Effectively On-boarding Sibling Spouses Developing the Sibling Partnership Building the Business and Family Systems to Support the Sibling Partnership Sticky Issues and Predictable Bumps in the Road Laying the Foundation for the Cousin Generation to Follow Conclusion: Enjoy the Journey and the Destination