Governance Challenges and Opportunities for Family-Owned Companies

Overview

Family businesses have unique challenges and opportunities - especially as it relates to governance.  Join us to hear owners of three local family businesses share their experiences working with their boards.  Moderated by Todd Smith, a family business consulting expert with CFAR.

Venue

Opus Hall Map

Parking

The closest parking ramps are at 11th Street & Harmon Place and 10th Street and Hennepin Avenue, under the FAIR school. 

Registration

$  0 Member Registration Fee
$35 Non-Member Registration Fee

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Panelists

Emily Allegra Second Generation Owner

Emily Allegra is a second-generation owner and involved with the ownership leadership of the family business since 2010. Emily began her career outside the family business working for Eli Lilly in sales for 12 years after earning her B.S. from the University of Notre Dame and MBA from Syracuse University. After her time working outside the family business, Emily had a desire to have more of an active role in serving her family business. Currently, Emily is a board member for the Delta ModTech board with 4 other family members and 3 outside members.  She is the managing partner for family investments held outside of Delta ModTech, manages real estate development projects for the family and serves as the Director of Owner's Council where she works closely with peer family leaders to develop and deliver services to the family. In her role as Director of the Owner’s Council, she serves as a high-level project coordinator, guiding and supporting special projects and supporting the education, governance, owner engagement and succession. She also enjoys serving other non-profit organizations as a board member for the Salvation Army Northern Division Advisory Board and Maranatha Christian Academy Advisory Board as well as the Board Treasurer for Well Read Mom, a non-profit.

William (Billy) Morgan 2nd Generation President Northwest Respiratory Services (NRS)

Billy Morgan is the second generation President of Northwest Respiratory Services (NRS). NRS has been with the Morgan family for 24 years and was purchased by Billy’s father, Chip. Billy took over as president in 2019.  Before becoming President, Billy spent 6 years at US Bank in the wealth management division and completed his MBA at St. Thomas.  NRS has 240 employees, 30 offices, serving 10 states across the Midwest and Northern Rockies. NRS specializes in providing the respiratory & oxygen equipment to the senior care community. Presently, NRS services 1,000+ skilled nursing facilities, 10,000 veterans, and 23,000 patients monthly across their distribution network.  Billy stepped into the role as President right before the respiratory pandemic hit in March of 2020, which brought forth its own set of challenges, but NRS has continued to grow and expand. Some of his accomplishments while President of NRS include: 

• Securing the VA-19 home oxygen contracts for Montana and Wyoming veterans in January 2021. Opened 7 additional branches to service the oxygen needs for the additional 3,500 veterans. 
• Purchased 100% ownership of NRS in July 2021 by acquiring 45% of the business held by their silent partner. 
• Purchased & renovated 35,000 sq. ft building moving the corporate headquarters from St. Paul to Eagan, MN – April, 2023. 
• After 8 years in decline, significantly increased margins and profitability. 

Billy lives in his childhood hometown of Rosemount with his wife Keena and four young boys. (Foxtyn – 8, Maximus – 6, Sully – 4, and Jonesy -1). He completed his undergraduate at Bethel university in 2011 while also participating on the Bethel Football team while at Bethel. In his free time he enjoys spending time with his family, his extended family, and golfing with his brothers and Dad. 

The Meritex Company is a national commercial real estate investment and management company which presently owns a portfolio of approximately 110 warehouse properties totaling 12 million square feet in 9 US markets. The Company acts as an investment manager for the McNeely family and institutional investors.

The Meritex Company is a 107-year-old business owned by three generations of the Harry McNeely, Jr. family. The Company was the inaugural recipient of the Minnesota Family Business of the Year awards made by the University of St. Thomas and Twin Cities Business Magazine.
Mr. McNeely was elected CEO/COB in May 2001 and transitioned to COB solely in 2023.

Prior to working at Meritex, Mr. McNeely worked as a commercial banker in Minneapolis for 10 years.

Mr. McNeely is active on several for-profit and not for profit boards, including the Warners’ Stellian Company, Murphy Logistics Solutions, US Bank Regional Advisory Board, and the Family Business Center at the University of St. Thomas.

Moderator

Todd Smith is a seasoned consultant who has worked with family and owner-led business for over two decades in the areas of governance, education, strategy, and communication improvement. With a large and diverse client list spanning numerous industries, Todd brings deep experience in strategy, process improvement, and organizational alignment to his client engagements.

Todd’s unique perspective has been honed over hundreds of engagements with large and mid-sized family enterprises. In addition to working as a family business consultant, Todd served as EVP of Strategy & Governance within a complex multi-generational family office. He understands the complexity of working with numerous advisors from various industries, having coordinated such groups through large company sales, real estate management changes, trust company restructuring, and a variety of related projects.

He is a skilled facilitator, able to adapt quickly to a variety of business and interpersonal challenges as they arise. He enjoys assisting families in successfully managing the competing demands of running a thriving business enterprise while maintaining family cohesion and ensuring longevity.

Prior to focusing on family businesses exclusively, Todd spent many years consulting with Fortune 100 companies in the areas of strategy and process. His desire to provide a more meaningful impact within his clients led him to take a role managing the consulting practices for Eide Bailly LLP for many years, during which time he served a diverse and successful group of family business clients.

Todd has a BA in Political Science and Government from Minnesota State University, Moorhead.

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