SCHENECTADY — The Daily Gazette’s board of directors this week was honored for its performance by an industry organization.
The 2021 Private Company Governance Summit was held online Wednesday through Friday.
Its producer, MLR Media, calls it the only national conference focused on the governance challenges faced by owners, shareholders, directors and advisory board members of closely held, family-owned and private equity-owned companies.
Dozens of boards were nominated for this sixth-annual presentation of Private Company Board of the Year honors but just seven were chosen for best serving their stakeholders — owners, shareholders, employees and community — in their structure and performance.
The Gazette’s board was cited for helping the 127-year-old company stabilize the core news business by diversifying the revenue stream beyond news.
The leadership team sends the board a written report a week before it meets. Board members review it, then send questions and receive answers in advance of the meeting. This keeps the actual meeting time focused on strategic discussions.
Its committees include governance/business succession, finance/audit, risk/cyber/safety, business investment and diversification.
Also honored were the boards of the following companies: C.G. Schmidt, Commerce State Bank, Environmental Systems Design, King Ranch, Larson Design Group and Ulteig Engineers.