From Bored to Ballistic: The Bell Curve of Board Behaviors
The constant, meddling actions of a controlling, outside investor/board member in the day-to-day affairs of a company can have a direct, negative impact on the organization’s performance.
A while back I was retained to help develop a new strategic plan for the management team and the Board of Directors of an angel-backed technology company. Soon after I started the project, the CEO told me that a significant angel investor/board member (Moneyman) called either she or the CFO every day at 4:45 for an update on the company. Every day, not kidding…
Was Moneyman, “Just checkin’ in…?”
Was he simply showing enthusiasm, expressing interest, acting curious, proffering sage advice, coaching the senior team and being ‘hands on’? He wasn’t calling to coach or offer operating advice. Moneyman was meddling. To read the whole article, click here.