Startups and Independent Board Member – Best Practices

In the past, I have discussed how to run board meetings effectively and how to work best with board observers. Continuing that conversation around best practices, this article is focused on a much overlooked but really critical part of board composition — the independent board member. The independent is (1) someone not beholden to either investors or the company, (2) who brings a unique value to the board and is also (3) often the power broker between their conflicting interests. 1) Not Beholden To Anyone At least in theory. In practice, the independent is often appointed by management with consent…...