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Building a Strategic Board to Maximize Family Business Longevity

Featuring
Meghan Juday
Chairman of the Board of IDEAL Industries

May 9, 2025

In today’s high-risk climate, boards cannot afford to be mediocre. An engaged board significantly contributes to long-term strategic value. By implementing governance to ensure effective oversight of business conditions, capital strategy, innovation, and talent management, boards provide essential guidance and drive sustainable growth. High-impact boards are crucial for creating shareholder value and offering strategic oversight, where the expertise of directors is actively integrated into decision-making. This requires selecting the right directors and fostering an environment where their insights and skills are fully leveraged to propel the organization’s success.

Despite the significant investment in time and money to recruit directors with extensive skills and experience, many boards fail to effectively utilize this expertise. The key to maximizing shareholder value lies in the effective utilization of board expertise. Ineffective governance, a CEO’s reluctance to accept feedback or a lack of trust between the board and management often undermine board effectiveness. Consequently, many boards fail to provide substantial value to the management team or shareholders.

In this discussion, Meghan Juday will share a case study on the two-year governance transformation of the IDEAL Board. She will share insights, lessons learned, and practical guidance for embarking on a journey toward governance excellence.

Meghan Juday is the Chairman of the Board of IDEAL Industries, a 107-year-old family business, and serves on several other family business boards. Renowned as an expert in family and corporate governance, Meghan founded The Lodis Forum, a peer group for women in board leadership roles that offers peer networking and expert series on all aspects of governance excellence.

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  • About ELAB
  • Board of Directors
  • Programs
  • ELAB Speaker Series
  • Advisors
  • Case Studies
  • Our Clients
  • Insights & Resources
  • Getting Started