Serving on Private Company Boards
“Understanding the solution, is only the beginning.”
What is the value of a Private Company Board?
An advisory board can improve your business, but they are not the same level as a board of directors. Directors of private boards are there to advise the Chief Executive Officer, maximize shareholder value while balancing governance, risk and business operations. The unique blend will be different for each company and owner.
Private Board Insight
The key to understanding the objective of the stakeholders and shareholders rests solely on determining what it means to maximize their value. It may not be obvious.
As the Chief Executive Officer and Owner Are You….
- struggling with the “private board challenge”?
- confused about the expectations of you and your board?
- uncertain with what you are trying to accomplish with your board?
- unsure if your mandate is working for you as the shareholder?
- seeking directors with governance or financing expertise who can assist in guiding the Chief Financial Officer?
- preparing to sell your company?
- looking to acquire a company?
If you answered yes to any of the above, contact me to learn how I can support you in finding answers and solutions.
The “Private Board Challenge”
The challenge of a private board rests with the knowledge that there is an inherent paradox. The paradox is that the owner can be the “shareholder”, “board member”, and “Chief Executive Officer”, not all of which share the same perspective and agenda. Through my direct experience with private company boards, I have recognized the “hat” the owner is wearing and as a director pose the right questions.
25 Years’ of Experience
Experience in entrepreneurial private and public companies through various roles including Interim Chief Operating Officer, Chief Financial Officer, Controller and Manager of Audit Services understanding balancing governance, finance, risk and business operations.
Public & Private
Worked with both public and private boards. I have experienced the rigors of public company governance and the private company need to balance governance, finance, risk and business operations.
What Founders and Boards Want
Worked closely with a business owner and founder to position him in his role reporting to his Board of Directors as the “Chief Executive Officer”. Through this experience further developing my understanding of what owners want from their Board of Directors and vice versa, what a Board of Directors wants from the owner.
Developed business metrics, governance models and lender financing programs.
Ability to Articulate Risk
Evaluated practical and cost-effective strategies to address and mitigate risk.
Experience in guiding management in the development of strategic plans.
Hold Management Accountable
Ability to understand the business metrics that hold management accountable for achieving desired results.
Implemented Private Company Board of Directors
Implemented a decision-making board of directors; developed the board mandate, director’s manual and skills matrix to assist in selection of potential board members.
Developed Quarterly Reporting
Worked with the Chief Executive Officer and directors to develop a quarterly reporting package focused on key performance metrics and ensured critical issues found their way onto the board agenda.