PHILADELPHIA--(BUSINESS WIRE)--Five of the nation’s top company private boards were named as winners of Private Company Director, Directors and Boards and Family Business magazines’ second annual Private Company Board of the Year award.
The winners are the boards of Blue Diamond Growers, Bush Brothers and Company, Diesco Ltd., Samaritan Medical Center, W.S. Darley & Co., all of which were honored for their exceptional work in board governance.
The award recognizes both fiduciary boards—those which are tasked with protecting shareholders and vote on decisions that are binding for company management, and advisory boards—more informal boards that have no binding regulatory role. Fiduciary board awards were broken down by company revenues.
The award was created to recognize those private companies who go above and beyond legal governance requirements and commit to the highest levels of governance, whether through fiduciary or advisory boards. The awards recognize the performance of the board as a whole.
Out of dozens of nominations received, 19 private companies were selected as semi-finalists, and eight boards were finalists. Because of the high quality of the finalists, the judges decided to recognize one advisory board, and four fiduciary boards at various levels of total company revenues.
“The awardees serve companies whose revenues range from $20 million to $1.7 billion,” said Robert H. Rock, chairman of MLR Holdings LLC, the parent company of the magazines presenting the awards. “This shows that it’s not the size of the company that counts, but the company’s commitment to excellence in governance.”
Fiduciary Board, Revenues under $100 million
Samaritan Medical Center
Fiduciary Board, Revenues between $100-$350 million
W.S. Darley & Co.
Fiduciary Board, Revenues between $350 million-$1 billion
Bush Brothers and Company
Fiduciary Board, Revenues above $1 billion
Blue Diamond Growers
Profiles of the winners will appear in the September issue of Private Company Director magazine.
About MLR Holdings LLC
MLR Holdings publishes Directors & Boards Magazine, Family Business Magazine and Private Company Director Magazine, and produces the Private Company Governance Summit, along with the Transitions Conferences (East, West, Mexico and Canada) and Family Business Generational Wealth. @privatecodir, @directorsboards, @fambizmagazine.