The Executive Development Program for Private Companies

New Program

This program is designed to address a private company’s unique challenges, opportunities, and performance. You'll gain the management tools to enhance sustainable growth while retaining what matters to your organization.

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A one-of-a-kind executive development program for private company leaders.

The Executive Development Program for Private Companies provides the management tools to develop sustainable private sector-led growth. Participants will assess a company’s culture fit for purpose and effective governance practices. You will examine the role financial statements play in unlocking value in a private company, as well as the intersection of business strategies with private ownership models. In addition, you’ll dive into the mindsets of investors and explore frameworks to commercialize and finance innovation. Ultimately, you’ll explore critical levers to enhance sustainable growth while retaining what matters to your private company.

By attending, you will: 

  • Examine disruptive global macro trends shaping businesses and strategic risk management frameworks to prepare and build resiliency
  • Gain the competitive frameworks to analyze what your competition is doing, as well as innovative approaches to stay ahead of new threats
  • Examine various private company ownership structures and their unique challenges and opportunities
  • Examine successful business models and entrepreneurial techniques that drive profitable innovation
  • Discover the unique role financial statements play in unlocking value for private companies and management’s role in producing transparent financial information
  • Gain real-world examples of tax benefits in the sale of an entire private business
  • Assess your private company’s culture readiness for new opportunities, succession planning, and talent acquisition in highly competitive environments —ultimately supporting a culture of good governance
This program is led by a team of top Booth faculty and private industry leaders.

This program will benefit mid-to senior-level executives, C-suite, owners, and founders from private companies around the globe, such as family-owned enterprises, private corporations, and partnerships. 

Those in private organizations that are backed from PE firm(s) will find benefit in attending, as well as those who serve on private company boards, councils, and advisory committees.

Private companies from a wide variety of sizes and industries such as manufacturing, technology, retail, and healthcare will all find this program beneficial, especially those who are preparing for organizational growth.

  • Executives must navigate new and uncharted business landscapes -- inflation, supply chain disruptions, technological innovation, labor shortages, changing regulations, and other factors will continue to upend traditional frameworks and place new demands on leaders. Examine these disruptive global macro trends and develop a strategic risk management framework to build a resilient organization prepared for future risks.
  • Too often, executives over-rely on experience and patterns of thinking that have been successful for them in the past. In a completely static environment, this might allow them to continue to make good decisions, but the business environment is changing rapidly and becoming increasingly complex. Scan your competitive environment, seek alternative perspectives, and consider innovative approaches.
  • Explore a company objectives, priorities, and options for what comes next.
  • Explore various ownership models and the intersection of business strategies with ownership strategies. You’ll examine succession planning, executive compensation, and explore critical levers for increasing company value.
  • Examine best practices to adopt from the private equity world, as well as pitfalls and landmines to avoid.
  • Learn frameworks for commercializing and financing profitable innovation.
  • Explore investors' viewpoints and best practices in cash-constrained environments.
  • Gain and overview of a private equity (leveraged buyout) deal: purpose and benefits.
  • Learn about capital allocation processes and valuation techniques.
  • Leverage financial reporting for evaluation, access, deployment, and management of financial assets.
  • Acquire techniques for improving capital management.
  • Unlock potential value for your firm through financial statement analysis.
  • Gain an introduction to tax structures used for acquiring privately held businesses.
  • Explore entity types for which acquisition structures can and often do generate significant tax benefits for the seller, and discover situations with substantial tax benefits from the sale of a component or subsidiary of a private business.
  • Explore various tax-related valuation issues and how they should be factored into the valuation of a privately held business
  • Often, business cultures in their early stages are driven by founding the owners’ visions and close personal networks. As companies move to the next level, previously successful levers may no longer maximize performance. Learn how to lead a winning culture for this phase of your company's development while staying true to your mission.
  • Explore senior leader succession planning, strategies to attract and retain talent, and the board’s role in setting the tone from the top.

Michael Minnis

Professor of Accounting and Charles E. Merrill Faculty Scholar
Michael Minnis studies the role of accounting information in allocating investment efficiently by both managers and capital providers. His recent research focuses on understanding the role of privately held companies in the U.S. economy and how these firms use financial reporting to access, deploy, and manage capital. He particularly enjoys identifying unique data and methods to empirically examine issues in a novel way.

Effective January 2018, Minnis became a member of the Private Company Council, the primary advisory council to the Financial Accounting Standards Board on private company issues. In this role he helps FASB understand the effects of accounting standards on private companies and helps shape new standards as they relate to private companies. He has also been engaged in consulting projects, working with the investment bank Lincoln International to develop and launch the Lincoln Middle Market Index which tracks the value of private middle market companies.

Prior to pursuing his PhD, Minnis worked in a variety of professional roles. He first started in corporate finance at Eli Lilly and Company, Inc. and later at Fitzgerald | Isaac, p.c. as a certified public accountant. Building on his knowledge and experience, Minnis went on to found Controller Associates LLC. His firm provided part-time controller and Chief Financial Officer services to start-ups, small companies, and non-profit organizations, as well as a variety of financial statement analysis and consulting services. He sold the firm to Milestone Advisors in 2006.

“Having worked with and studied companies ranging in size from large multi-nationals to start-up ventures, I have seen the usefulness and the power of the information conveyed in financial statements. I want managers, investors, and students to be able to take full advantage of this information.”

Minnis received his PhD from the University of Michigan and his BS from the University of Illinois, where he graduated with Highest Honors.

Randall Kroszner

Norman R. Bobins Professor of Economics
Randall S. Kroszner is Norman R. Bobins Professor of Economics. He previously served as Deputy Dean for Executive Programs at Booth, as well as a Governor of the Federal Reserve System from 2006 until 2009. He chaired the committee on Supervision and Regulation of Banking Institutions and the committee on Consumer and Community Affairs. In these capacities, he took a leading role in developing responses to the financial crisis and in undertaking new initiatives to improve consumer protection and disclosure, including rules related to home mortgages and credit cards. He represented the Federal Reserve Board on the Financial Stability Forum (now called the Financial Stability Board), the Basel Committee on Banking Supervision, and the Central Bank Governors of the American Continent and was a director of NeighborWorks America. Dr. Kroszner chaired the working party of the Organization for Economic Cooperation and Development (OECD), composed of deputy central bank governors and finance ministers, on Policies for the Promotion of Better International Payments Equilibrium. As a member of the Fed Board, he was also a voting member of the Federal Open Market Committee.

From 2001 to 2003, Dr. Kroszner was a member of the President’s Council of Economic Advisers (CEA). He was involved in formulating policy on a wide range of issues, including responses to corporate governance scandals, government-sponsored enterprise reform, pension reform, terrorism risk insurance, tax reform, currency crisis management, sovereign debt restructuring, the role of the International Monetary Fund (IMF), and international trade and development.

Since 1990, Dr. Kroszner has taught at the University of Chicago Booth School of Business. Dr. Kroszner was Director of the George J. Stigler Center for the Study of the Economy and the State. He served as editor of the Journal of Law & Economics and has been associate editor of a number of other academic and policy journals. He was a member of the board of directors at the National Association for Business Economics and the Financial Management Association.

Dr. Kroszner serves as the Chair of the Financial Research Advisory Committee of the Office of Financial Research of the U.S. Treasury. He is a member of the Federal Reserve Bank of Chicago’s Academic Advisory Council and of the board of advisors of the Paulson Institute. In addition, he is a Research Associate of the National Bureau of Economic Research. He is member of the board of trustees of the Chicago Symphony Orchestra and a member of the board of directors of the Renaissance Society.

Dr. Kroszner has been a visiting scholar at the Securities and Exchange Commission, the IMF, the Stockholm School of Economics, the Stockholm University, the Free University of Berlin, Germany, the London School of Economics, and the American Enterprise Institute. He was the John M. Olin Visiting Fellow in Law and Economics at the University of Chicago Law School the Bertil Danielson Visiting Professor of Banking and Finance at the Stockholm School of Economics, and the SK Chaired Visiting Professor at Yonsei University, Seoul, Korea.

His research interests include regulation of financial institutions, international financial crises, the Great Depression, monetary economics, corporate governance, debt restructuring and bankruptcy, and political economy. His paper on managerial stock ownership (with Clifford Holderness and Dennis Sheehan) won the Brattle Prize for best corporate finance paper in the Journal of Finance. His book co-authored with Nobel laureate Robert J. Shiller, Reforming U.S. Financial Markets: Reflections Before and Beyond Dodd-Frank (MIT Press) appeared on the Washington Post’s Book World political best sellers list.

Dr. Kroszner is a frequent commentator in the international media. He provides advice to financial institutions, government organizations, and central banks throughout the world.

Dr. Kroszner received a Sc.B. (magna cum laude) in applied mathematics-economics (honors) from Brown University in 1984 and an M.A. (1987) and Ph.D. (1990), both in economics, from Harvard University.

Merle Erickson

Professor of Accounting
Merle Erickson studies the effect of taxes on the pricing and structuring of mergers, acquisitions, and divestitures; and the use of accounting information in valuation and contracting. He also studies, among other things, various aspects of accounting fraud. He teaches “Taxes and Business Strategy” at Booth and has taught the course for the last twenty five years.

In addition to numerous articles published in a variety of top academic journals, Erickson is a coauthor of the widely used Taxes and Business Strategy textbook (currently in its 6th edition) and is the author/editor of the casebook, Cases in Tax Strategy. From 2005-2011, he served as a co-editor of the Journal of Accounting Research.

Over the course of his career, Erickson has consulted on complex GAAP and tax accounting issues (e.g., debt versus equity, various ASC 740 related issues, intercompany accounting and consolidation, employee stock option accounting, accounting for mergers, acquisitions and divestitures (e.g., spin-offs, leveraged partnerships, reverse Morris Trust transactions), restated financial statements, etc.) in a variety of contexts (e.g., bankruptcy, mergers, acquisitions, divestitures, inversions, structured finance, investment planning, cross border and intercompany financing, partnership and LLC arrangements, tax sharing agreements, shareholder disputes, and various types of tax advantaged transactions). His clients have included, among others, the U.S. Department of Justice, the Internal Revenue Service, Fortune 500 companies in various industries, international financial institutions, law firms, accounting firms, and individual taxpayers. He has also assisted corporations with SEC, IRS and whistleblower investigations. Erickson brings these real world experiences to his “Taxes Business Strategy” and executive education courses at Booth.

Prior to entering academia, he assisted the U.S. Government in its prosecution of the Lincoln Saving & Loan case. He subsequently published an academic article and teaching case relating to the audit failure associated with the Lincoln Saving & Loan case. That teaching case has been used by the Big 4 to train junior auditors. 

He has been given several awards from the American Taxation Association for his research and teaching. He has received the Outstanding Manuscript Award (twice) as well as an award for teaching innovation. In addition to teaching graduate students at Chicago Booth, Erickson has taught courses to Morgan Stanley, Merrill Lynch, General Electric Capital Corporation, Baker McKenzie, Andersen Consulting, Accenture, CareerBuilder, and the IMCA (Investment Management Consultants Association) among others. He also was been named one of BusinessWeek's Outstanding Faculty at the University of Chicago.

Erickson earned a bachelor's degree in accounting from Rockhurst College in 1987, an MBA in 1989 from Arizona State University, and a PhD in accounting from the University of Arizona in 1996. He joined the Chicago Booth faculty in 1996.

In addition to his scholarly activities, Erickson is an avid fisherman. His angling pursuits have taken him from the pristine wilderness lakes of northern Canada to some of the remotest stretches of the Great Barrier Reef. He received the Angler Award from the Billfish Foundation in 2003 for releasing the most striped marlin worldwide that year.

Gregory Bunch

Adjunct Professor of Entrepreneurship
Greg Bunch draws on a wealth of experience as an entrepreneur, manager, consultant, alderman, and teacher. He is the founder of Masterplan International Corporation, a strategy consulting firm. He was also a partner at Brandtrust, a brand strategy consultancy. Greg co-founded a healthcare software start-up in the Bay Area. He has served on corporate boards for financial services, healthcare, retail, franchising and marketing firms.

He works with Fortune 50 companies, family businesses and start-ups in the areas of innovation and strategy. He has worked with a broad array of companies including Abbott Labs, American Express, Danaher, Dover, ETS, Harley-Davidson, Hewlett-Packard, Kimberly-Clark, McDonalds, PepsiCo, State Farm and Yum! Brands.

Greg was an alderman in the City of West Chicago, serving on the infrastructure, public safety and development committees.

Greg has lectured nationally and internationally on topics related to strategy, creating customers, and innovation. He earned a bachelor's degree from Wheaton College in philosophy and an MDiv from Harvard University.

Stephen Morrissette

Visiting Professor of Business Administration
Steve Morrissette's career includes large corporate experience in mergers & acquisitions, commercial banking, as well as entrepreneurial projects as an investor and founding CEO of several start-up businesses. In addition to 30 years of practitioner expertise, his academic career includes 15 years of full-time teaching and extensive scholarship on entrepreneurial finance including a comprehensive study of angel investors published in the Journal of Private Equity, many articles on the banking industry, and many presentations and journal articles.

His expertise includes: Strategic Planning, M&A, and Capital Planning. He works with publicly-held firms, privately-owned firms with a special emphasis on planning for large family-owned businesses.

Recent consulting projects include developing a strategic plan including M&A Plan ($700 mil firm in SE USA), developing ownership exit strategies/succession plans for 4 family/founder held business ranging in size from $10 to $50 million in EBITDA, strategic plan for an $75 million international internet based business, and an international strategic plan ($2 bil firm based in Saudi Arabia).

Formerly he was the founding CEO of First Community Financial Partners, a 4 bank holding company which grew to $1.2 billion in assets in 10 years which he took public and later sold. At First Community, he led 5 stock offerings raising over $100 million in equity.

He has made 11 angel investments, 4 search fund investments and has advised numerous start-up firms including mentoring Booth New Venture Challenge teams.

He serves on several corporate and non-profit boards.

His academic credentials include an MBA with honors in Finance and Strategy from the University of Chicago and a PhD in Entrepreneurial Finance from Union University. In addition to Booth, he is a Professor at the University of St. Francis in Joliet, IL and has guest lectured at the Northwestern Kellogg School of Management. His current research includes decision models for mergers and acquisitions including "A Framework for Validating and MA Deal Thesis" published in the Journal of Accountancy and Finance. He also recently published "An Investor's Guide to Search Funds" in the Journal of Private Equity; the article was co-authored with a Booth student.

Ana Dutra

CEO, Mandala Global Advisors

Ana Dutra is an experienced corporate board director of publicly traded and private global corporations. She previously served as CEO of The Executives’ Club, a 112-year-old world-class senior executives organization focused on innovation, technology, diversity & inclusion, and leadership development for boards and top leaders. She has led lines of business and global P&Ls with CSC, Oliver Wyman, Accenture, and more recently, with Korn Ferry. She received her MBA from the Kellogg School of Management, Northwestern University.

To apply for the program, candidates must submit:

1. A completed application.
2. A resume or CV.
3. A statement addressing your learning objectives for attending the program. 

Applications are accepted and reviewed on a rolling basis. During the review process, a member of the Admissions committee may contact you to discuss your application.

To ensure your place in the program and to receive advanced preparation materials in a timely manner, please submit your application at least six weeks before start of the program. Late applications will be considered if space is available.




This crash course leadership program covered comprehensive subjects on leadership, strategy, and financial analysis toward assessing the valuation of an organization.
Khairul Anwar Mohamad, Group Chief Financial Officer, Petra Energy Berhad 

Upcoming Courses

Date Fee
October 28-November 1, 2024 $12,500 APPLY TODAY


This program typically runs in the Spring and Fall.