There are no formulas to creating a great board, but there are some hallmarks of excellence
What does a great board look like? Is it a group of star business personalities, or one that lives up to the highest standards of good corporate governance? Is it the board of a company that consistently beats analysts' estimates, or one that has deftly handled adversity and CEO succession? The answer is that there are no answers.
Corporate governance experts and board advisers agree that there is no recipe for building a great board. A group of exceptional business stars might be highly dysfunctional behind the closed door of the boardroom, while a diverse group of largely unknown but highly experienced individuals could be running the best board in America. Because boards are made up of a group of people, it is in that human interaction and chemistry that great boards are made. The sum is greater than its parts.
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