Translation to Latin - Latin Scholar Needed?

I am putting together a group within my present company of former owners of what are now subsidiary companies. These smaller companies were acquired by my employer, and the owners stayed on as executives and managers. I am one of that group. The group would be called the “Council of Former Owners”, or something like that, which is not exactly a catchy name, and it also may imply that better things are behind us, which is not what I want to convey. Accordingly, I’d like to explore a Latin name to provide a little more “pizzazz” to the project. My four years of Latin have long since left my head, so the best I could come up with is “Consilium Ex Herus”. Of course, this is probably a syntactical and grammatical disaster, and may mean something completely different—perhaps a profane insult. Can any of the professors on your language staff help out with a possible name? Many constructions contain so many words to impart the intended meaning that they are not effective as names, so I need expert help to put see if a short, accurate translation is possible. Any help you can provide is greatly appreciated. Thanks.