A board can help the CEO improve structures, systems and processes that in turn reduce strife in the family or ownership group. How, exactly, does that work? What are the lines a board shouldn’t cross? What can independent directors do to foster shareholder harmony that insiders can’t do? What are the most effective types of shareholder communications?

Takeaways:

• Independent directors can reinforce boundaries between board and family/owners’ council matters

• Independent directors can take the heat off the chairman/CEO by vetting tough decisions 

• Frequent communication is key to improved shareholder relations