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Private company governance
Independent board members can be a valuable resource for private companies
Entrepreneurs are typically strong-willed people, and for many the thought of having to answer to similarly strong-willed independent board members about the decisions they make for their businesses is not particularly appealing. They may also believe that the cost, time and effort required for a board with independent members could be put to better use elsewhere in their businesses. Despite that, a growing number of privately-owned companies have opted to have boards with independent board members, believing that the perspectives and insights that they can bring to the company far outweigh any constraints.
This publication explores the following areas of private company governance:
- Benefits of a board
- Types of boards
- Role, responsibilities and structure of the board
- Transparency and reporting
- Qualities of board members
- An international independent board member’s perspective