TAG: Governance
Management
TheFunded.com Discussion
Posted by Anonymous on 2009-01-29
Tags: Operations Personalities Governance
CFO on the Board
TheFunded.com Discussion
Posted by Anonymous on 2008-12-27
Tags: Operations Board Governance CFO
Board Composition
TheFunded.com Discussion
Posted by Anonymous on 2008-12-19
Tags: Operations Governance Board
Board Composition
TheFunded.com Discussion
Posted by Anonymous on 2008-12-09
Tags: Operations Board Governance
Founders Board Seats
TheFunded.com Discussion
Posted by Anonymous on 2008-12-04
Tags: Negotiation Board Governance
Having Both a Board and a Board of Advisors
TheFunded.com Discussion
Posted by Anonymous on 2008-10-14
Tags: Operations Governance Board
Do Not Compromise on Board Selection or Governance
TheFunded.com Advice
Posted by Mr. Smith on 2008-07-27
Tags: Closing Governance
A lot of CEOs get busy right after closing an investment, leaving Independent Board seats unfilled. It is in the best interest of investors to wait and fill the Independent seats, as the investors get time to evaluate the company performance and nominate loyalists with relevant skills while the CEO is too busy to resist. Meanwhile, it is in the best interest of CEO to fill Independent seats right away with a highly qualified industry expert that will support the Company first and foremost.
Many new and experienced CEOs let the governance slip and make small compromises in governance "to get the deal done" or "get the problem off of your plate." From experience, these compromises WILL come back to haunt you. As many as two thirds of all start-up CEOs get replaced, and this process starts with the governance.
The most substantial job of a Board is to fire and recruit the CEO. A seasoned investor with control of an independent seat will orchestrate a management switch faster than you can blink an eye if the results are disappointing. Here are three things that every funded CEO should be doing: (see private)
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