Boards that Complement the Next Generation of Family Business Leaders

Today’s businesses face unprecedented uncertainty. Even before 2020’s pandemic fundamentally upended the status quo, disruption was taking the form of new technology, market globalisation, and ageing demographics. Companies have had to change to meet their goals, but have their boards evolved with them? The board room is coming under increasing pressure to prove its value as the traditional business models from which it sprang undergo transformative innovation.

In this episode of WiFB, Meghan Juday, Board Chairman of Ideal Industries, a diversified family-owned business that designs and manufactures products for electrical, lighting, and infrastructure industries, discusses the challenges she faced and the revelations she boldly acted on when becoming the first female Chairman for her family’s 107-year-old company, in an industry overwhelmingly dominated by men.