by | Oct 23, 2017 | Blog, Board Governance, Business, Business Advisory, Family Offices, Trust
How did Milton S. Hershey close the ownership loop of his business enterprises? Mr. Hershey created three trusts: two during his lifetime and one upon his death. He designated Hershey Trust Company the trustee of the three trusts. Hershey Trust Company is a...
by | Oct 20, 2017 | Blog, Board Governance, Business, Business Advisory
I’ve mentioned before on this site that boards for companies, large or small, can function in one of two ways: smoothly or terribly. It all depends on the members. But sometimes, even if you have some fantastic members, there needs to be an even greater leader helming...
by | Oct 13, 2017 | Blog, Board Governance, Business, Business Advisory
Let’s start with the Hershey Trust Company, a Pennsylvania bank created in 1905, wholly owned by Milton S. Hershey. In 1909, Mr. Hershey created his Deed of Trust. In it, among other things, he put all of his business assets into trust and made the Hershey Trust...
by | Oct 12, 2017 | Blog, Board Governance, Business, Business Advisory
I’ve often been asked the question, “What is the appropriate size of a board?” The answer, of course, depends on the type of organization. With a non-profit board, fund raising is an important responsibility for board members. Therefore, they tend to have large...
by | Oct 2, 2017 | Blog, Board Governance, Business, Business Advisory
Selecting the chair of the board is an extremely important duty of the board. It can mean the difference between a smooth and effective board and a dysfunctional one. During my Hershey career, I have experienced both. At the Hershey Trust, when we had a very good...