Board Lens: Growth of a 4th Generation Family Enterprise

We are grateful to Stephanie Bennett for allowing us to share her thoughts and program overview; we quite simply could not have said it better. We also extend our sincere gratitude to Stephanie for all her work bringing this brilliant fireside chat to life; and to Northern Trust for partnering with us to bring these critical boardroom conversations to our members. Please find the program overview notes link below:

From the desk of Stephanie Bennett

On June 4th, 2026, in St. Louis, NACD Heartland Chapter members and guests gathered for a breakfast discussion that truly exceeded expectations. It was a great conversation bringing together candid insights, practical governance perspectives, and the remarkable story behind one of our region’s most recognized family enterprises, Schnucks Markets. 

We are especially grateful to Todd Schnuck for sharing the Schnuck family journey from his grandmother opening a single store to sell her famous potato salad, to growing a multi-generational enterprise by encouraging her siblings to build businesses of their own.

What stood out most was not just the growth but the intentionality behind it. Todd spoke openly about the hard work it takes to keep a growing family aligned and engaged, including building thoughtful governance structures: a formal fiduciary board, a family council, and dedicated committees focused on culture and integration. These frameworks help sustain both the business and the family’s passion for it over time.

At the center of it all is a clear purpose: Nourishing People’s Lives through the food they provide, the strength of their culture, and a continued openness to learn from new partners as they grow through acquisition.

The conversation was brought to life by Peter Boumgarden, whose thoughtful questions, grounded in deep research and real-world insights on family enterprise governance, added important context and perspective. Peter has a unique ability to connect data and story in a way that resonates with business owners and directors alike. I would encourage anyone interested in this space to explore his work leading the Koch Center for Family Enterprise: Learn more about the Koch Center for Family Enterprise

We are also grateful to Eric Czepyha and the broader NACD and Northern Trust teams for helping shape such a thoughtful and engaging discussion.

Thank you to everyone who joined us—and to those who couldn’t attend, this was one you would have wanted to be in the room for. For more on the program, please find the summary here. For more photos, please visit us on LinkedIn here.