I Help CEOs Succeed and bring Directors and Executives Together
The board of directors and management need a healthy communication channel and a partnership with clear roles to drive the success of the business. As skilled professionals, when we build mutual respect, and work together as a team...
Magic Happens!
Governance
Company boards, particularly when they are dominated by venture capital or PE investors, tend to be all about financial performance. However, board members need to go way beyond the numbers. They need to be aware of practices and policies that may be creating risks, or diminishing value. The culture of the organization has an enormous impact on performance, and to the extent possible without crossing the line between the role of management and that of the board, board members need to be sensitive to the culture of the company. Think about Enron, it was the culture that destroyed the company. Had the board been aware of the destructive culture and tolerance for deceit, things may have turned out differently.
Board Communications
Board communication is a "Goldilocks" challenge. Some management teams provide too little, and some provide too much, but rarely is the balance between clarity and efficiency "just right." Directors need to know enough to be helpful, and enough to be aware of practices and policies that may be creating risk. They also need to know how the business performed in the current reporting period, how it is likely to perform in the next several reporting periods, and the plan for the business going forward. Getting board communication "just right" requires time and attention on the part of the CEO and the management team.