Great boards of directors are high-performance teams capable of helping companies by bringing critical corporate guidance, industry knowledge, access to important networks, and much-needed executive experience.
CEOs who are able to effectively recruit, assemble, and manage a value-adding board of directors will find that they have a trusted team of advisors to help them with critical tasks like strategy development and goal setting, executive recruiting and talent management, and strategic relationship building and market research.
In this first podcast of a two-part series, Raouf and Levensohn — one of the primary authors of a seminal white paper about boards of directors entitled, “A Simple Guide to The Basic Responsibilities of VC-Backed Company Directors” — talk about basic best practices for boards of directors and how to set them up to be successful, high-performance teams. Specifically, their conversation focuses on the:
- Value of having a board of directors
- Ideal profile of board members
- Best practices for engaging board members
- Separation of the CEO role from chairman role
- Common complaints that board members have about their CEO
- Role of the independent board member and how CEOs should use them to create more balance on their boards
- Best time to establish a formal board of directors
Listen to the full podcast by clicking the link below.
This week’s Labcast is Part I of the conversation between Firas Raouf and Pascal Levensohn. Click here for Part II: How to Run Effective Board Meetings.
Looking for a complete guide to assembling and managing the board of directors your company deserves?
OpenView’s ebook, Building a High-Impact Board of Directors: A Guide for Expansion-Stage CEOs leverages OpenView’s considerable experience working with entrepreneurs like you to provide the insights and actionable steps you need to:
- Understand the value that an effective board of directors can provide
- Assess whether or not it is time to change your current board
- Recruit and assemble a high-performance team
- Establish a clear management rhythm to engage your board effectively