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Monthly Archives: September 2010
Board members should be elected annually.
No board member should be grandfathered, guaranteed a board seat forever. Practically speaking, this is an impossible goal. We have investigated the restrictions imposed by investment documents and the obvious need to keep continuity on the board with the retention … Continue reading
Fight for balance on your board!
In my last insight, I described the CEO who stacked the board with two friends, making a majority for control purposes and relegating the investor representatives to insignificance. There were no outside board members with industry experience, no members the … Continue reading
The need for a board grows with complexity
Start-ups with one founder rarely have or need a board of directors. In fact, such a board would seem out of place in a one person company. As soon as any outside money is ingested into the corporation, others have … Continue reading
Board members must protect the coporation before themselves.
All other board functions are secondary. Even venture capitalists who sit on boards where they have significant investments often forget this point. They write into their investment documents that they will occupy a seat on the board for as long … Continue reading
Posted in General, Surrounding yourself with talent
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