Manning Fulton's Executive Speaker Series Focuses on Executive Compensation Arrangements
November 20, 2017
How to Transition Management and Attract Talent in an Expanding Market
Manning, Fulton & Skinner, P.A. (“Manning Fulton”) recently hosted 30 guests at its Executive Speaker Series: “Best Practices in Executive Compensation Arrangements.” The event was presented by Manning Fulton’s Corporate Practice and featured a panel of experts including Bradley. S. Wooldridge of Manning Fulton and Kyle Gordon of Brown Brothers Harriman. Wooldridge and Gordon discussed best practices for executive compensation arrangements for closely-held businesses as well as how to attract and retain top-level executives to the Triangle.
“Our goal is to educate company leaders and work with them to ensure they are attracting the best talent and helping secure their companies’ future,” said Wooldridge, partner at Manning Fulton. “As Baby Boomers are retiring, there’s a growing need to transition to new management teams. The Triangle is growing at a rapid pace due to expanding businesses and new businesses moving to the area. It’s imperative that companies get creative and plan accordingly to remain competitive and recruit the best talent.”
The program covered important issues like when closely-held businesses should turn their attention to matters of executive compensation, what closely-held businesses should look for in an executive, how to motivate those executives – aligning their interests with that of the shareholders – and ways to do it without giving up equity. While there are many executive compensation structures, Wooldridge and Gordon focused much of their time advising guests about those incentive-based compensation options, including the granting of phantom stock or stock appreciation rights (SARs), that allow family businesses to retain full ownership of their company while incentivizing new management-level employees.
“This is the third luncheon we have hosted as part of our Executive Speaker Series,” said Barry Mann, managing partner at Manning Fulton. “The way we think about business is constantly evolving and changing. Whether commercial real estate developers, closely-held businesses, or healthcare providers, our Executive Speaker Series is designed to keep our clients and community partners up to date on current trends and best practices.”
About Manning Fulton
Manning Fulton was founded in 1955 by Howard Manning and Charles Fulton, and is one of the longest-lasting law partnerships in North Carolina. In its nearly seven decades faithfully serving the Triangle and Eastern North Carolina, Manning Fulton has grown with its clients and this remarkable state. Today, 40 attorneys, averaging more than 20 years’ experience in their respective fields, provide the full suite of legal services to businesses and individuals throughout North Carolina. The firm’s attorneys are uniquely committed to first-rate, accessible, no nonsense expertise and the development of a lasting relationship with every client. Put simply, we focus on what matters.
About Brown Brothers Harriman
BBH is a privately held financial institution that has been a thought leader and solutions provider for nearly 200 years. The firm serves individuals, families, businesses and institutions in its three business lines: Private Banking, Investment Management and Investor Services. In addition to the $31.4 billion in assets under management (AUM) in Private Banking, BBH Investment Management has approximately $55.9 billion in AUM, and the Investor Services business has $4.6 trillion in assets under custody. BBH’s culture of accountability fosters deep and lasting relationships built on commitment, adaptability and trust. The company is independent, selective and specialized by design.
For more information, please visit www.manningfulton.com.
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