Brittney Ray, the full-time Family Council Chair for E. Ritter & Company, provides a compelling look into stewarding a 136-year-old family enterprise. As a "married-in," or "outlaw" as they humorously refer to them, Brittney’s journey into family leadership underscores the importance of curiosity and inclusivity in family businesses. A pivotal moment for the Ritter family came in 2019 with a significant liquidity event, which prompted an identity shift from owner-operators to owner-investors. This change spurred "Project Ernest," an 18-month initiative to revamp the family's mission, vision, and values, engaging professional consultants for broad family input. The project resulted in a renewed commitment to investing in the family, doubling the family governance budget, and shifting towards proactive, intentional planning. Brittney’s role focuses on fostering family unity and engagement, developing future leaders—including a unique educational program for 8-18 year olds—and creating a culture where diverse perspectives and open dialogue are not just tolerated but celebrated, ensuring the family remains bonded beyond shared ownership.

 

Key Themes:

Evolution of Family Governance

Inclusive Family Definition & Engagement

Intentional Investment in Family Unity

Multi-Generational Leadership Development

Culture of Openness and Productive Dialogue

Philanthropy as a Unifier

 

Timestamps:

02:43 - Ritter family history, legacy, and founder’s entrepreneurial roots

04:48 - Current family size and inclusive definition of family

05:39 - Married-in perspective and first family meeting, the “outlaws” term

06:56 - Liquidity event and shift of ownership to engage younger generation

09:56 - Role and mandate of the Family Council Chair

11:45 - Tenure, path from non-voting member to chair, and move to full-time

17:06 - Post-sale identity shift and Project Ernest to revamp mission, vision, values

21:40 - Three-day Boston summit and family approval to invest more in governance

22:49 - Transition from reactive to intentional, strategic family planning

26:41 - Governance structure overview including Owners and Philanthropy committees and boards

33:01 - Biannual family meetings and fall education experiences

36:30 - Next-gen education program for ages 8 to 18 and custom curriculum

52:27 - Philanthropy as a unifier and next-gen engagement in giving

 

Additional Resources: 

Brittany Ray, Ritter Family Council Chair

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