Pittsburgh, PA and Greenwich, CT (December 29, 2006). James C. Bly, Jr. and Francois M. de Visscher, Co-Chairmen of Business Growth Alliance, LLC (BGA), today announced that BGA has agreed to support the launch of PathNorth, LLC under the national leadership of their partner, the Hon. J. Douglas Holladay. The Inaugural Meeting of PathNorth will be held on January 22-23, 2007 at the Union League Club in New York, NY.
“My partner and former U. S. ambassador, Douglas Holladay, is the person whose vision and inspiration has led to the organization of PathNorth. He has been laying the foundation for this effort for many years. PathNorth grew from Doug’s realization that principal owners and CEOs of middle market companies are facing today an unusual array of challenges that require thoughtful yet highly practical responses” said Mr. Bly.
He continued, “While there are many business associations and organizations that cater to middle market business owners and CEOs, none seem to adequately address the “whole picture”, which often creates a blur among business, family, friends, causes, and our time and life on this earth. The mission of PathNorth is to serve as a resource for middle market business leaders to bring meaning and fresh perspective to both their work and life.”
Reached for comment, Mr. Holladay explained, “I have observed leaders up close and personal for years. They are, for the most part, fine people seeking to create value for their companies. However, a host of complex and interrelated factors have seriously impacted America's business and professional leaders. More CEOs stepped down last year than in any other previous time. Leaders can feel overwhelmed, isolated, lacking supportive relationships, needing some of the practical tools and information essential to performing at today's demanding levels. Many long-time family-owned businesses are being sold with ownership uprooted from their communities. As one writer observed: ‘Life is fired at you point blank.’ No doubt, being a business owner or leader is tougher and less forgiving today than at any time previous. As human beings, we often make bad decisions when we are doing so in isolation without the benefit of outside perspective.”
PathNorth, LLC was founded to address this situation by providing regular meetings and a “safe” place for principal owners and CEOs of middle market businesses to gather and discover practical strategies and information to assist in navigating life and business pressures. The sessions will be candid and personal with the aim of equipping the participants with both the mindset and tools to be even more successful in their business endeavors, leadership roles and personal lives.
Through their participation in PathNorth, middle market business owners and CEOs will have an opportunity to interact directly with some of the giants and legends of the current world of business and, more broadly, our life and times. “Through Doug Holladay’s good works over many years, he has been able to enlist the enthusiastic support of a broad range of business and societal leaders who have agreed to serve as PathNorth mentors, presenters and advisors”, commented Francois de Visscher.
Mr. de Visscher added, “In today’s globalizing economy, the proverbial ‘It is lonely at the top’ is evermore true for the leaders of family-owned and middle-market companies. Their personal and business lives increasingly intertwine in a meander of concurrent global business challenges and family shareholders expectations. By networking with other business leaders surrounded by a faculty of world renowned thinkers, participants in PathNorth will achieve fuller clarity of mind and greater serenity in their personal and business decisions.”
PathNorth will draw upon the experience of both its members as well as many of the most accomplished leaders of our day (who have agreed to be involved based upon their conviction that vibrant middle market businesses are a cornerstone of our great nation). Some of the many business leaders who have volunteered to serve as presenters or advisors to PathNorth members include, for example, Steve Case, former Chairman and CEO, AOL Time Warner, who is currently Chairman & CEO of Revolution, LLC; Dave Ferguson, former President and CEO, Wal-Mart Europe and Wal-Mart Canada; William B. Harrison, Jr., Chairman JP Morgan Chase; H. Wayne Huizenga, Jr., President, Huizenga Holdings, Inc., and John C. Whitehead, Chairman, Goldman Sachs Foundation, former Co-Chairman, Goldman, Sachs & Co., and former U. S. Deputy Secretary of State.
Gerry Roche, Senior Chairman, Heidrick & Struggles and another PathNorth advisor said, “This is the toughest climate ever for leaders. It’s not fun. Many want out. They are isolated and running their companies on the defensive. This is not good for business or the country. Most need perspective and support, yet they are unclear where to find it. I have known Doug Holladay for many years, and thanks to his vision and leadership PathNorth holds promise to become a shining light and welcome port for CEOs of middle market companies.”
“The challenges faced by CEOs today are unprecedented. Leaders need a way to see the bigger picture while in the pressure cooker, but how and where to find such help? As the elusive goal of success is pursued, we can miss the most important things if we don’t pay attention. I look forward to my involvement in PathNorth” commented Debra S. Waller, Chairman and CEO, Jockey International, Inc.
ABOUT PATHNORTH, LLC
The mission of PathNorth, LLC (www.pathnorth.com) is to serve as a resource for business leaders to bring meaning and fresh perspective to both work and life. For more information about PathNorth, LLC, please contact Jeannie Herbert directly at 202.467.2079 or email jherbert@pathnorth.com.
ABOUT BGA
Business Growth Alliance, LLC (BGA) is a National Network of seasoned, professional services firms, which are dedicated to providing growth advisory and investment banking services to middle market and family-owned companies and their principals. In addition to their core growth advisory and investment banking services, BGA Member Firms collaborate to address the strategic growth, capital formation, owner liquidity, and governance needs of such businesses and their owners. The eight Founding Affiliate Members of BGA include: de Visscher & Co., Source Companies, LLC, yet2.com, The Pursuit Group, Tenzing Consulting, Value Defined Middle Market, LLC, Asher Training, and US China Business Solutions Inc. More information concerning BGA can be found on its website: www.bgallc.net.
To Contact BGA:
Manning J. O’Connor II, Executive Director
Business Growth Alliance, LLC
1606 Carmody Court, Blaymore 1, Suite 300
Sewickley, PA 15143
Telephone (724) 933-6650
Fax (724) 933-6099
email: moconnor@bgallc.net
www.bgallc.net
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