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Family Business Breakfast Series

Planning for the Unexpected Loss of a Leader

It's a tough topic and one no family wants to discuss, but they really should: What happens if our leader is unexpectedly no longer with us?

Facing the burden of a sudden loss or disability of a leader can be devastating to both the family and the business. However, taking the time to plan for these unforeseen circumstances can help keep the family and business afloat in case bad news ever comes. In this Family Business Breakfast Series event, we will learn from two family business members, Dale Bachman of Bachman's and Alexandra Murphy of Murphy Warehouse, both of who's family member CEOs died unexpectedly. While both companies shared the experience of sudden loss, they were in very different situations.

When Bachman's Chairman and CEO Todd Bachman was unexpectedly killed in 2008, there were a number of other family members working in the business and the company had a board. When the Chairman and CEO of Murphy Warehouse, Richard Murphy, passed away unexpectedly, he was the only family member working in the business and the board was in transition.

Moderated by CFAR Principal Todd Smith, both speakers will share how their families and businesses were able to work together to move forward from their losses in the best way possible. We'll learn the first steps taken to secure the leadership of the business, and how the families were able to rally around their relationships and values to move forward together.

Due to the sensitive nature of this event, we will not be recording it for future viewing. Thanks for your understanding.

Dale Bachman, Bachman's
Alexandra Murphy, Murphy Warehouse
Todd Smith, CFAR (moderator)