What Is the Purpose of the Independent Board Member?

What Is the Purpose of the Independent Board Member?

November 17, 2020 by investor

You may want to add independent board members to your board.

The independent board member may add value to your company by bringing domain knowledge and operating expertise.

Look for someone who has run a company of your size and industry in the not-too-distant past.

The independent often brings a new perspective to the company that can be helpful.

Investors often look at independents as a sign of transparency. 

In times of conflict, the independent can bring neutrality to the discussion to help resolve conflicts. 

Check to see if they have time to commit to the board work.

And choose someone who is close to the startup or where the meetings will be held, so it’s not a burden on them.

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