Do we need a board?

• • What can a board do for the company?
  • Benefits of a board
  • Board’s role
  • Executive compensation
  • Strategy
  • Monitoring risk
    • • • Risk portfolio
        • High-level risks
        • Periodically deep dives
        • Periodic brainstorming on emerging risks and disruptors

 

How to create a board?

• • Directors
    • Who?
    • What are the qualities and skills needed?
  • Size of the board
    • Goldilocks principle – not too big, not too small
  • Manage director expectations – set the tone early on
  • What do directors expect from the company? How does this differ from the next generation of directors?

 

Frequency of meetings

• • The number of meetings will depend on the size of the company and its complexity. Many companies have a standard meeting schedule. Additional meetings (for example, to address a particular issue, or in a time of crisis) can be set episodically.
  • Approach the meeting calendar with discipline

 

What are leading board practices
and how can they be derailed?

• • Agendas and minutes
  • Committees – do you need them?
    • Charters?
    • Who should be on which committee?
  • Chairman dynamics
    • Someone who can effectively manage the agenda and the meeting
    • Well respected by the other directors
    • Actively engaged with CEO and directors between meetings
  • Feedback
    • Very important
    • Formal and informal

 

Board renewal

• • Periodic review of the skills needed on the board for current and future strategies
  • Drive a culture that when an objective is achieved for which a particular person is on the board, that director will be expected to move on.
  • Manage expectations