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Warner Norcross + Judd LLP is a corporate law firm with over 230 attorneys serving clients in nine offices throughout Michigan. Among the largest law firms in Michigan, Warner works in virtually all areas of business law.

Michigan Law Firm - Warner Norcross + Judd LLP

A multi-generational family-owned business wanted to remain family-owned but was in need of outside executives who could serve as a bridge from the current leadership to a younger generation. They also wished to recruit additional executives to continue the company&rsquo;s growth. Warner engaged with the family leadership to implement an equity arrangement with a key trusted non-family employee who will serve as a long-term President while younger family members gain experience and develop their capabilities. This will provide the family with the time needed to determine who is best suited to run the business in the future. To help the company recruit a high caliber executive team, we developed a stock appreciation rights plan that will align the executive team&rsquo;s financial interests with those of the family. This will also provide a cash benefit to the executive team without further diluting the family&rsquo;s equity interests.

core/freeform

Private Client and Family Office

Partner

Justin W. Stemple

Closely Held Businesses

Employee Benefits

Family Business and Succession Planning

Hiring Outside Executives Between Generations for Family Business

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Hiring Outside Executives Between Generations for Family Business

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