Woman-owned Defense Contractor Sherri Bovino, CEO, Global, A 1st Flagship Company, Details in Webcast How Women Thrive in Male-Dominated Industries
From Building Missile Silos to Transitioning Businesses to Daughter, Sherri Bovino Talks with Family Enterprise USA’s President Pat Soldano about Triumphs and Struggles of a Woman-owned Business in Defense Contracting
Working in male-dominated government defense industries and nurturing a daughter to take the wheel of Global, A 1st Flagship Company, Sherri Bovino in a new webcast provides lessons for all woman-owned multi-generational family businesses.
The webcast, hosted by Family Business USA’s President Pat Soldano, features both CEO Bovino and her daughter, Paige Kavooras, assistant vice president for business development. Global is based in Irvine, Calif., and has some 500 defense contract employees working in the continental U.S., Alaska, and Hawaii, and in other locations around the world.
The webcast, available on YouTube, delves into topics of building on a legacy business, servicing and working in defense industries, training workers, and the decision making process of selling or transitioning the business to the next generation.
“One of the most important things we do is build culture,” says Bovino in the Family Enterprise USA webcast. “We build a culture that inspires people and that creates fun. Our values are driven around that culture.”
Global’s services range from ship repair and maintenance to emergency environmental response to salvage and recovery missions. Global’s success, Bovino says, is in its “trust of the experts we hire to do the job.”
That trust and culture have created long-term employees that span generations and has helped the company develop long-term trust with government defense agencies needing to hire those experts.
“When you have our kind of employee longevity it plays into the safety of institutional knowledge,” says Paige Kavooras, the next generation family member at Global. “It gives us a great advantage, and we have a lot of things we gain from that experience,” Kavooras adds.
Personal and estate taxes are also touched upon during the webcast.
“Multi-generational family businesses like Global have a harder time competing with large corporations just based on the unequal tax policies they face,” said Soldano about multi-generationally owned family businesses like Global. “This is why income taxes are the number one issue for family businesses, and the biggest barrier to transitioning the business to the next generation,” she said. “Global’s story should have even greater significance to our leaders in Congress, as they look at the overall defense budget and make sure they have the best experts and service providers to make our country safe.”
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Family Enterprise USA promotes generationally owned family business creation, growth, viability, and sustainability by advocating for family businesses and their lifetime of savings with Congress in Washington DC. Since 2007, Family Enterprise USA has represented and celebrated all sizes, professions and industries of family-owned enterprises and multi-generational employers. It is a bi-partisan 501.c3 organization. Family foundations can donate.
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