"Succession Planning-Part I & II
Part I-
It's All Relative: Effective Leadership and Managing Transitions in a Family Business" - Register on the IFOB site
8:00 a.m. - 8:30 a.m. - Continental Breakfast & Registration
8:30 a.m. - 10:30 a.m. - Program
Part II- The Texas Hold’em Moment - Strategies to know when to hold, sell, buy and execute other winning options for your business -
Register at MECPA site. Click here to register with them.
11 a.m. - 2:00 p.m. - Includes Lunch
Please NOTE if you want to attend BOTH sessions, you must register once with the IFOB and then with the MECPA. You can come to either program or both.
Part I
As the third installment in a three-part series on “How To's for Family Business”, this workshop will fall under this year’s theme at the Institute For Family-Owned Business (IFOB): Operation Next Level & How To's for Family Business.
This program will be a comprehensive discussion of how to effectivly lead and manage transitions in a family business.
Thursday, June 20 - Part I: from 8-10:30 a.m.
It’s All Relative: Effective Leadership and Managing Transitions in a Family Business
Janice DiPietro will lead a panel of three family-owned businesses in a discussion on succession planning. Currently confirmed panelists include Nick Doudoumopoulos from Jasper Wyman & Son of Millbridge, ME, who represents the fourth generation of this business and Susan Ware Page from Maritime Energy of Rockland, ME who represents the third generation.
We’ll learn about the family’s leadership journeys and tailor the program to all aspects of succession. Janice will open the panel by having the audience share stories and challenges /success they may have faced during a transitional period. She will then lead a discussion on leadership strategies, transitional topics, how multi-generational businesses can be set-up to make sure the wealth doesn’t vanish, and whether family-owned businesses should seek talent within the firm or outside the family during a transition. The panel will end with a Q&A session.
Price: Free for IFOB Members (remote or in person), $15 Future IFOB Member Remote Access, $25 Future IFOB Member In-Person
Part II
Thursday, June 20- Part II: from 11 a.m. - 2:00 p.m.
The Texas Hold’em Moment - Strategies to know when to hold, sell, buy and execute other winning options for your business
After a short break, the discussion will turn to Part II in cooperation with MECPA, the state’s premier professional association for current and aspiring CPAs in business, education, government and public accounting and who seeks to provide its members with services and benefits which strengthen their practices and enhance their experience in the accounting profession. The focus of this panel will be on buying, selling and other options for exiting a business. Panelists include Seth Webber, Principal, BerryDunn; Tim Benoit, Attorney, Perkins Thompson; Moya Elliott, Senior VP and Senior Relationship Manager, People’s United Advisors, and Patricia Camelio, Senior Vice President and Commercial Leader,People’s United Bank. The panel will end with a Q&A session.
Price: $30 IFOB and MECPA Members (remote or in person) includes lunch. Must be booked with MECPA for the Part II section.
We would end with a Q&A session.
Part I Panelists:
Janice DiPietro – CEO, Exceptional Leaders International (E.L.I.)
Driven by a passion for helping people, families and organizations succeed, Janice has successfully led and consulted to companies for over 25 years. She has experience in many diverse and complex industries with a focus on family enterprises. Janice founded Exceptional Leaders International (E.L.I.) to channel her passion for family and business success in a powerful new way, bringing together an exceptional team of C-level executives dedicated to guiding clients successfully through periods of growth and transition. Whether her clients are seeking to expand, improve performance or effect a change in leadership or ownership, E.L.I. Professionals deliver solutions that solve their most challenging problems. E.L.I. uniquely focuses on assisting family enterprises balance family dynamics and business realities during these critical transitions so that ownership value may be maximized.Janice holds an MBA and doctoral degree from Boston University, where her dual concentration in accounting and psychology led her to focus on expert decision-making and leadership. She speaks and publishes on a variety of business topics and serves as a board member for several profit and nonprofit organizations.
Nick Doudoumopoulos – Director, Jasper Wyman & Son (Wyman’s of Maine)
Nick Doudoumopoulos serves as a Director for Jasper Wyman & Son, a family-owned wild blueberry farming and processing company headquartered in Milbridge, ME. From 2002 through 2010, Nick was Chief Technology Officer at Potomac Photonics, a contract microfabrication company. At Potomac, Nick ran engineering operations, developed manufacturing processes and supported business development. From 1995 to 2001, Nick was co-founder and President of Photobit Corporation (now part of ON Semiconductor), which pioneered the development of active pixel image sensors; a technology now used in every imaging system from mobile phones to cars. As Photobit's President, he guided new business development, ran the commercial products division, and lead sales and marketing. Prior to Photobit, Nick worked at NASA's Jet Propulsion Laboratory (JPL), where he led CMOS readout and focal plane array (FPA) development for infrared imagers. Nick spent the first 10 years of his career in a variety of positions throughout Hughes Aircraft working in the area of semiconductor design, manufacture, and test. He holds an M.S. and B.S. in electrical engineering from Columbia University, as well as a B.A. in Physics from Alfred University. Nick has published and presented numerous papers in the semiconductor field and holds a number of related patents.
Susan Ware Page – President, Maritime Energy
Susan oversees the senior management with responsibility for all company operations including fuel hedging and supply contracts. After college and working for Fortune 500 Safeco Financial in Seattle, Susan decided to return home and learn the family business from her father, John. Being close to her family was most important. Susan has been on numerous State & local boards and was inducted into the USM Hall of Fame for basketball in 2012 and the Midcoast Sports Hall of Fame in 2014. Susan’s pride & joy are her two young sons, Jack & Blake.
John Beauregard - Owner, Beauregard Equipment
A graduate of Champlain College, John and his brother Carl now run their family business. Beauregard Equipment was founded in 1968 by Bob Beauregard, as a Family-Owned and Operated business, providing construction equipment products and support services. Groomed from childhood and cross-trained in sales and rentals, service and parts, John can answer most questions on the spot. The company has full service locations in Colchester, VT; Concord, NH and Bangor, Caribou, Scarborough, ME. Together, the brothers share a memory of Beauregard Equipment, maintain its character and values, and are proud to see it flourish in their generation. As they grow, they pass on their knowledge and family values to all employees who in turn, carry the personal Beauregard touch to all of their customers. As a family-owned and operated business, they put people before their machines, literally.
Part II Panelists:
Seth Webber- Principal, BerryDunn
Since joining BerryDunn in 2007, Seth has brought his combination of valuation, consulting, and operations skills to bear for his clients, helping them navigate challenging issues related to business valuation. As head of the Valuation Group, he leads a diverse team of valuation experts that draw on the deep resources of BerryDunn to help clients address their needs. Seth is heavily involved in working with clients to define and execute transition plans, including valuations relating to ESOPs, management buyouts, sales, and gifting. He also provides expert witness services to clients and attorneys on business valuation, economic damages, and lost profits. Seth holds an MBA, as well as numerous credentials (CFA, CEPA, CVA, ASA, CBA) all focused on gaining knowledge to help his clients answer difficult questions related to value and succession planning. His prior experience included management and consulting experience including several years with Deloitte Consulting in Boston and Detroit. Seth holds a MBA from the University of Virginia, Darden Graduate School of Business Administration and a Mechanical Engineering degree from Cornell University. He has recently joined the Board of the IFOB.
Tim Benoit – Attorney, Perkins Thompson
Tim is a shareholder and director of Perkins Thompson, a Portland based law firm. He provides legal counsel to individuals and entities to create and maintain successful business enterprises. He has been involved in many merger and acquisition transactions as counsel to either the acquiring or the acquired entity. In addition, Tim provides estate planning to individuals and integrates his business practice with his estate planning practice to assist clients develop an orderly succession plan for their businesses. Representative projects include tax-free reorganizations, recapitalizations of corporations and limited liability companies, formation of ESOPs, forward and reverse 1031 Like Kind Exchanges, and negotiation of shareholder agreements and LLC operating agreements. He is included in The Best Lawyers in America© 2019 in the field of Tax Law and has an AV Peer Review Rating from Martindale Hubbell, the highest rating available.
For more informationcontact: catherine@fambusiness.org
Remote access is available to dial in. You must have hi-speed Internet access to dial-in to the forum remotely. If you are dialing in to the workshop you must pre-register so we can send you the remote instructions.
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