Board Management

XOventure has developed best practice principles for building and running boards more efficiently to the benefit of CEO and investors. 

“Each of the board of directors is expected to have general as well as specific knowledge that are suprior to the CEO, in order to coach and direct company management. However, the talents on the board are often mismanaged, and the individual board members hang around the table without giving their best”. The efficiency of the board is thus a reflection of the company. A high performing CEO needs coaching and direction of the board to be able to perform even better.

5 XOventure Board Recommendations:

1. The CEO is an operational manager and is not member of the board. We all need to report to someone.
2. The CEO is never recruited from the board, since no board member should have the wrong motives to stab the CEO.
3. The board shall self assess individual performance anually and make adjustments.
4. All fees and other board incentives are publicly available (this also goes also for Management)
5. Each board member should have a focus area and a meeting before each board meeting with the relevant manager e.g. CFO. This converts the board from a passive advisory "organ" to an active group that can support or challenge issues based on first hand information.