(Community Matters) Yesterday, Paul Hurdlow, senior partner at DLA Piper gave a presentation on effective for-profit boards at the Entrepreneur Foundation’s Legal Bites breakfast at the Headliners.
Interesting how there really shouldn’t be too much difference between for-profit and non-profit boards. Paul noted that a survey found that 95% of public company boards believed themselves to be effective or highly effective, while for-profit CEOs think “almost universally” only 1 or 2 directors make meaningful contributions. Can’t tell you how many times I’ve heard nonprofit EDs complain about the same. This isn’t smoke, EF’s lucky, we scope out targeted contributions from each board member and haven’t been disappointed by any.
Also, not a big surprise but good to be reminded, management and board members usually frustrated that not enough time at board meetings is spent on strategy – not just reports about strategy but the engagement of board members in development & oversight of strategy. I know this challenge, too easy for governance to dominate agendas.
Another good reminder, Paul talked about how any organization with loan covenants ought to include a summary compliance review at every meeting.
Community Matters 