Governance
When the Question
Is Who Decides.
Governance becomes consequential at the points of transition, dispute or stress — when ownership, authority and decision rights are tested against how a business or family actually operates.
LMV is typically brought in on governance questions that sit at the interface between a family and its business, or between shareholders and management — succession planning, board composition and renewal, shareholder alignment, and the accountability that goes with them. These are rarely resolved by the constitutional documents alone. They turn on how ownership, authority and decision rights actually operate day to day, particularly during a transition or under stress.
Anonymised. Generalised.
Led confidential advisory for a leadership transition within a founder-led conglomerate. Restructured board composition and governance architecture — renewing family alignment and a clear next-generation leadership path. $100M business realigned — succession resolved, family interests restructured. LMV's role was limited to governance and process design. Investment decisions were made independently by the client and their advisors.
How the Facts
Actually Connect.
A governance question is rarely settled by the org chart or the shareholders' agreement alone. It turns on how ownership, authority and decision rights actually work in practice, and whether that practice still matches what was agreed on paper.
- Ownership
- Decision rights
- Authority
- Board decisions
- Contracts
- Historical arrangements
- People
- Current operating reality
LMV-RIF holds these as connected facts rather than separate documents, so a recommendation can be traced back to where each piece of it came from.
LMV-RIF
LMV-RIF is what keeps a governance recommendation traceable back to the evidence behind it.