Perspective
Dec. 3, 2016
Too little attention paid to private company boards
Chief executive officers often pay too little attention to the role of privately held company boards, often leading to CEO and outside director consternation. By Thomas W. Kellerman
Much attention has been focused on the role and duties of boards of directors of publicly held corporations. Delaware case law is replete with guidance regarding the obligations of directors of public companies. On the other hand, far less attention has been paid to the role of directors of privately held companies. In fact, the duties of, and opportunities for influence by, directors of smaller emerging growth companies can...
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