A passive board of directors is a board that offers limited strategic input and tends to automatically approve the recommendations of the CEO or management team. This ‘rubber-stamp’ board is characterized by a lack of active engagement, challenging questions, or independent oversight, contrasting sharply with an active board that strategically guides and governs the organization.
You’ve accomplished a lot in your career and gained valuable experience. Now, you’re ready for an influential new challenge: securing a board seat. This role is about more than prestige. It’s a chance to use your unique insights to guide strategy, drive growth, and make a real impact. While joining a board is appealing, understanding board governance is essential. Not all board roles offer the same level of influence, and choosing carefully is critical for landing a truly impactful position.
As you work toward joining a board, it’s vital to understand the difference between an active, engaged board and a passive board of directors. A board role should be about making a real contribution, shaping strategy, and providing oversight—not just filling a seat or rubber-stamping decisions. For an aspiring director, recognizing a passive board can mean the difference between a rewarding, high-impact position and one with little opportunity for true leadership.
Understanding various board structures, including how to spot a passive board of directors, is more than just theory—it’s essential for any professional aiming for a board seat. This guide will give you the knowledge to recognize and navigate different board environments. You’ll gain the clarity to ensure your next career move is not just any board appointment, but the right board appointment. Let’s begin with why a deep understanding of board structures is key to your success.
Why Should You Understand Different Board Structures?
The Impact on Your First Board Role
Understanding different board structures is practical, not just academic. It directly shapes your experience as a new director and determines your potential for impact. Without this knowledge, you might choose a role that doesn’t match your goals. This can lead to frustration and missed opportunities.
Every board works differently. A fiduciary board, for example, has major legal duties. You would oversee compliance and financial health [source: Investopedia]. On the other hand, an advisory board focuses on strategic guidance and offers a different kind of involvement.
Your first board seat is a key career move, so choosing the right type is essential. It affects:
- Your Learning Curve: Some boards offer intensive development; others provide less active mentorship.
- Your Time Commitment: Responsibilities vary widely. Some roles demand significant hours; others are more flexible.
- Your Influence Potential: You want a seat where your expertise truly matters.
- Your Network Expansion: The structure impacts the caliber and diversity of co-directors you meet.
Understanding these differences is crucial to avoid common mistakes. For instance, if you unknowingly join a passive board of directors, you may not be able to contribute fully. It could even slow your career growth. You need to know if a board offers the active role you want. Our program helps you make these informed choices.
Aligning Board Type with Your Career Goals
Choosing a board seat should be a strategic move to advance your career. That’s why understanding board types is essential—it helps you find a role that matches your goals. Are you aiming for more influence? Do you want to build your credibility? Or do you want to make a lasting impact?
Different types of boards offer different paths. For example:
- Advisory Boards: These are ideal for giving high-level strategic advice. You can use your expertise without being involved in day-to-day operations. This is perfect for sharpening your strategic thinking.
- Fiduciary Boards: These positions are best for those seeking deep governance experience. They involve legal and financial responsibility and can significantly raise your executive profile.
- Growth-Oriented Boards: Many boards focus on scaling a business. They offer great experience in market expansion, innovation, and fundraising.
Your career goals should guide your search for a board. For instance, if you want to be a CEO, a fiduciary board offers relevant experience. If you’re an entrepreneur, an advisory role can give you broad industry insights. Even a passive board can have benefits for a first-time director, if you have the right strategy.
At Veblen, we focus on helping you find the right board seat to make the biggest impact on your career. We give you the tools to match your experience with the best board type. This helps you land a role where you can truly succeed and gain the influence and credibility you deserve.
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What is a passive board?
Defining the ‘Rubber Stamp’ Board
Understanding different board types is key for any aspiring director. A passive board of directors is often called a ‘rubber stamp’ board. This describes a board that usually agrees with top management. They approve proposals without reviewing them closely. Essentially, they ‘rubber stamp’ decisions that have already been made.
This type of board offers little challenge or oversight. They rarely lead strategic discussions. Instead, their main role is to approve things. This can hold the organization back. It also lessens the impact you could have as a director.
A good board provides strong oversight. It reviews plans, asks questions, and offers guidance. A rubber stamp board, however, fails to do this basic job. They may not ask tough questions. They might not challenge the CEO’s vision. Ultimately, this harms real accountability. Research shows that independent board oversight leads to better company performance [1].
Active vs. Passive Boards: The Core Differences
Knowing the difference between an active and a passive board is vital for your career. You want to make a real contribution. Understanding these differences will help you choose the right board seat. Here’s a comparison:
| Characteristic | Active Board | Passive Board |
|---|---|---|
| Role in Decision-Making | Debates issues and thinks independently. Challenges ideas. | Mainly approves management’s plans. Offers few new ideas. |
| Engagement Level | Very involved. Shapes strategy, manages risk, and provides oversight. | Not very involved. Acts only when necessary. Often disengaged. |
| Oversight & Accountability | Closely watches finances and ethics. Holds management accountable. | Provides little oversight. Rarely questions finances or management’s actions. |
| Challenge to Management | Offers helpful challenges and new ideas. Pushes for innovation. | Rarely questions or challenges management decisions. Avoids conflict. |
| Value Contribution | Acts as a strategic partner. Adds value with its expertise and guidance. | Seen as a formality. Adds little real value. |
To be a director who makes an impact, you should target active boards. They will use your skills and value your input. Joining an active board can be a game-changer for your career.
Common Scenarios for Passive Boards
Passive boards usually form for specific reasons, often tied to the company’s culture. Knowing these scenarios can help you spot a ‘rubber stamp’ board before you join. Look out for these common situations:
- Founder-Led Organizations: A strong founder or CEO keeps tight control. They may want a board that just approves their ideas. Members may be afraid to challenge the person who built the company.
- Boards Composed of Close Ties: The board is made up of the CEO’s friends or family. These close ties can prevent objective review. Personal loyalty might become more important than official duties.
- Lack of Board Expertise or Training: Members lack industry experience or governance training. They may not know which questions to ask or understand all their duties.
- Non-Profit Organizations with Dominant Donors: In some non-profits, a powerful donor or leader has too much influence. The board might feel pressured to agree to protect funding or avoid conflict [2].
- Infrequent or Poorly Prepared Meetings: Meetings are rare, or materials are sent out late. This leaves no time for real discussion and leads to quick, unthinking approvals.
- Crisis Aversion Culture: The company culture avoids conflict. Dissenting opinions are discouraged. This can lead to a board that avoids tough conversations, even when they are needed.
When looking for a board seat, watch for these red flags. You want a role where your voice and expertise are valued. Knowing what to look for will help you choose the right board.
How Can You Identify a Passive Board of Directors?
Key Signs to Look for During Due Diligence
Spotting a passive board starts long before your interview. Thorough research can reveal key signs, so be sure to look beyond the surface.
- Homogenous Board Composition: A board where members have similar backgrounds in skill, age, or experience often lacks fresh perspectives. This can lead to groupthink and reduce critical debate [source: Harvard Law School Forum].
- Long Board Member Tenure: Experience is valuable, but a board where most members have served for a long time (e.g., over 10-15 years) can become set in its ways. This may lead to complacency and a resistance to change.
- CEO Duality: When the CEO is also the Board Chair, it can weaken independent oversight. This structure gives one person too much power, which can stifle debate and make it harder to challenge strategy.
- Lack of Independent Directors: A strong board should have a majority of independent directors who can offer an objective viewpoint. If there are too few, it might mean management has too much influence.
- Absence of Key Committees: Important committees like Audit, Compensation, and Nominating/Governance are key to proper oversight. If these committees are missing or poorly structured, it can be a sign of a disengaged board.
- Limited Public Disclosure: Carefully review the company’s annual reports and proxy statements. A lack of detail about board activities, attendance, or performance reviews can be a red flag.
- Consistently Unanimous Votes: If public records show that every vote is unanimous, it may signal a lack of healthy debate. This can point to a board that simply “rubber-stamps” decisions.
- Poor Company Performance: Look at whether the company is consistently performing worse than its competitors, even with stable leadership. A passive board may not be holding management accountable for these results.
Questions to Ask in Your Board Interview
The interview is your chance to learn about the board’s culture and level of engagement. Ask smart questions to understand how the board works and the impact it has.
- “Can you describe a recent strategic challenge the board has faced, and how it was resolved?” Listen for signs of healthy debate and different opinions. Did the board help shape the solution, or did it just approve a plan from management?
- “How does the board typically challenge management’s strategic plans or major initiatives?” Ask for specific examples. An active board will have a clear process for asking tough questions, checking assumptions, and exploring other options.
- “What is the expected level of preparation and engagement from board members between meetings?” An active board expects members to do significant reading and preparation. Low expectations can be a sign of a passive board.
- “What are the board’s key priorities for improving its own effectiveness over the next year?” A board focused on good governance is always looking for ways to improve. If they have no plans for self-improvement, it could be a warning sign.
- “Can you share an instance where the board disagreed with management and influenced a different course of action?” This question helps reveal if the board is truly independent. If no one can recall such a time, that’s a concern.
- “How does the board ensure diverse perspectives are not just heard, but actively considered in decision-making?” This question checks if the board is committed to inclusive governance and preventing groupthink.
- “What opportunities exist for new board members to make an impact from the start?” A passive board may just want members who conform, while an active board welcomes new ideas and fresh challenges.
Red Flags in Board Meeting Minutes and Reports
If you can review board meeting minutes or reports, treat them as a window into how the board really operates. The details can reveal a passive dynamic.
- Consistent Unanimous Votes: Just like with public records, seeing only unanimous votes in the minutes is a red flag. It suggests a lack of healthy debate or real discussion on important topics.
- Brief or Superficial Discussions: The minutes should show that complex topics were discussed in detail. If major decisions are noted with only brief, vague statements, that is a red flag.
- Lack of Challenging Questions: Look for notes showing that directors asked tough questions, requested more information, or raised concerns. If this is missing, it signals low engagement.
- Domination by a Single Voice: If the minutes repeatedly mention input from only the CEO or Board Chair, it suggests other directors are not contributing much or are being overshadowed.
- Infrequent Meetings for the Industry: Boards in fast-moving industries usually meet more often. Few meetings might show the board is only reacting to problems instead of being proactive.
- Minutes Focused on Reports, Not Decisions: Minutes should focus on key discussions and decisions. If they mostly just summarize management’s reports with little sign of board input or action, that’s a concern.
- Absence of Follow-Up Actions for Directors: Active boards give specific tasks to directors or committees. If you don’t see any follow-up items assigned, it suggests members have little direct involvement.
- Poor Attendance Records: If the records show that directors often miss meetings without a good reason, it points to a lack of commitment. Most governance experts recommend near-perfect attendance [source: NACD].
- Lack of Board Self-Evaluation: Minutes should occasionally mention discussions about the board’s own effectiveness or performance. If this is missing, it suggests the board isn’t focused on improving.
What are the two types of board of directors?
The Advisory Board: Strategic Guidance Without Fiduciary Duty
Understanding board structures is key. Let’s start with the advisory board. This type of board offers strategic guidance and expert advice. However, its members do not have the same legal or fiduciary duties as members of other boards.
What does this mean for you? An advisory board allows you to share your expertise without the formal legal responsibilities of a traditional board member.
Key characteristics of an advisory board:
- Strategic Input: Members offer specialized advice on topics like market trends, technology, or business development.
- No Fiduciary Duty: Members are not legally required to act in the company’s best financial interest. They do not oversee financial reports or legal compliance [3].
- Flexibility: Meetings are often less formal, with more freedom in their structure and schedule.
- Networking Opportunities: It’s an excellent way to expand your professional network and connect with other leaders.
- Impact Without Oversight: You can influence company strategy without being involved in direct management.
If you’re an aspiring director, an advisory board is an excellent first step. It’s a great way to gain boardroom experience, contribute valuable insights, and build confidence in a formal setting.
The Fiduciary Board: Legal and Financial Oversight
A fiduciary board is very different because it carries significant legal weight. Directors have a legal duty to act in the best interests of the company and its shareholders [4]. This is a key distinction for any aspiring board member.
This fiduciary duty includes three core responsibilities:
- Duty of Care: Directors must make well-informed decisions, acting with the care a reasonably careful person would.
- Duty of Loyalty: Directors must put the company’s interests ahead of their own and avoid any conflicts of interest.
- Duty of Obedience: Directors must ensure the company follows all laws and its own internal rules (like its bylaws).
Members of a fiduciary board are deeply involved. They oversee the company’s financial health, ensure legal compliance, approve major decisions, and appoint senior leaders, including the CEO.
Joining a fiduciary board is a major career achievement. It shows you’ve earned a high level of trust and are ready for serious responsibility in shaping an organization’s future.
Where Do Passive Boards Fit In?
So, where do “passive boards” fit in? A passive board isn’t a separate legal type. Instead, it’s a term that describes a board’s behavior, whether it’s an advisory or a fiduciary board.
A passive board is one that fails to engage effectively. Its members might simply “rubber-stamp” decisions from management without offering real challenge or oversight. This can happen even on a board with serious fiduciary duties.
For example, a healthy fiduciary board should actively challenge management and monitor performance. In contrast, a passive one might approve proposals without asking tough questions. This creates huge risks for the company.
Why does this matter to you? When looking for a board seat, you need to spot these differences. Your goal is to join a board where your input is valued, so you can be an active and influential director—not a passive one.
At Veblen, we prepare you for active board leadership. We help you understand the differences between boards so you can find one where your input will truly matter. Board seats aren’t just for CEOs; they’re for you, and we show you how to secure the right one.
Are you ready to step into an impactful board role?
BOOK AN INTERVIEW WITH THE VEBLEN TEAM
Is Joining a Passive Board a Strategic Move for You?
Potential Benefits for a First-Time Director
Getting your first board seat can feel like a big step. A passive board can be a smart first move. It is a good way to get experience without the high pressure of a more active board.
Here are the main benefits for a first-time director:
- Understanding Boardroom Dynamics: You’ll see how board meetings are run. You can learn about governance and decision-making firsthand. This hands-on experience is very valuable for future roles [5].
- Networking Opportunities: Even on a passive board, you’ll meet influential leaders. These connections can lead to more active board roles later on. Your network is a powerful asset.
- Building Your Board CV: A board seat, even a passive one, makes your CV much stronger. It shows you are serious about governance and strategy. Future search committees will value this experience.
- Low-Pressure Learning Environment: You can learn the ropes of being a director. You’ll understand your duties without the pressure of making big decisions right away. This gentle introduction builds confidence.
- Exposure to New Industries or Business Models: A passive board might be in an industry that’s new to you. This is a chance to expand your business knowledge. Adding variety to your experience is a smart career move.
Ultimately, a passive board can be a great stepping stone. It gets you ready for the bigger, more demanding board roles you want in the future.
The Risks and Downsides to Consider
While a passive board can be a good start, it’s important to know the risks. If you’re not careful, it could slow your career growth.
Be aware of these potential risks:
- Limited Impact and Influence: The main drawback is that you may not be very involved. You might find that your advice is rarely asked for or used. This can be frustrating if you like to see results.
- Reputational Risk: If the company does poorly or has ethical problems, being on a “rubber stamp” board can harm your reputation. In the end, the board is responsible for how the company performs.
- Stagnation of Skills: A passive role might not challenge you enough. Your leadership and strategy skills won’t grow as fast as they would on an active board. You need growth to succeed.
- Wasted Time and Resources: Your time is valuable. Spending it on a board where you can’t contribute much can be a waste. Look for roles that help you grow.
- Difficulty Transitioning to Active Roles: Future search committees might question your experience. They may wonder why you took a role with little strategic input. Demonstrate your potential early on.
Therefore, understanding these risks is essential. It will help you decide if a passive board is the right fit for your long-term goals.
Turning a Passive Role into an Active Opportunity
Even if you land on a board that seems passive, you have the power to change your experience. By being proactive, you can redefine your role and make a real impact on the organization.
Here’s how to turn a passive board seat into an active one:
- Be Prepared and Proactive: Always come to board meetings fully prepared. Read all the documents, think of smart questions, and research industry trends. Your hard work will get noticed.
- Seek Clarification and Ask Incisive Questions: Don’t be afraid to ask “why” or “how.” Challenge assumptions in a respectful way. Your questions can lead to better discussions with other board members and the management team [6].
- Offer Value Outside Meetings: Find ways your skills can help the organization. Volunteer for a committee, offer to mentor an executive, or provide informal advice. Demonstrate your commitment.
- Build Relationships with Fellow Directors and Management: Build strong relationships outside of board meetings. Understand their views and the challenges they face. Good relationships will increase your influence.
- Propose Actionable Initiatives: Don’t just watch; suggest solutions. Share well-researched ideas that fit the company’s goals. Present your ideas clearly.
- Champion Good Governance Practices: Push for good governance. This means supporting transparency, accountability, and solid decision-making. Your focus on best practices can make the whole board better.
Remember, getting a board seat is just the start. The Veblen Director Programme gives you the tools to lead with confidence. We help you not just get a board seat, but make the most of it. You don’t have to be a passive observer. You are ready to step into the boardroom and make a lasting difference.
How the Veblen Director Programme Prepares You for Any Boardroom
Gaining the Confidence to Lead, Not Just Follow
Joining a boardroom can be intimidating. Many aspiring directors worry about finding their voice. The Veblen Director Programme helps you face this challenge. We teach you to be an active, influential board member, not just an observer. You will learn to move past the “rubber stamp” mindset of a passive board.
Our programme builds your leadership skills so you can contribute from day one. You will be prepared for important discussions and understand the fine points of corporate governance. We give you the confidence to question ideas and lead real change.
- Master Boardroom Dynamics: Understand unspoken rules and power structures.
- Strategic Communication: Learn to share your ideas clearly and persuasively.
- Effective Decision-Making: Develop the foresight to guide the company to success.
- Ethical Leadership: Act with integrity in complex situations.
We give you the tools to speak with authority and the courage to lead discussions. Our graduates learn to shape outcomes, not just watch them happen. Your impact will be clear throughout the company. You will confidently move from team member to strategic board leader.
Our Proven Strategies to Land the Right Board Seat
It takes more than ambition to land a board seat. You need a proven strategy and a powerful network. The Veblen Director Programme gives you both. We guide you every step of the way to find a board seat that fits your goals. We help you find a board where your skills will be valued and put to good use.
Our system helps you stand out in a competitive field. We teach you how to avoid passive roles and find boards that want real strategic input. You will learn to highlight what makes you a great candidate. Plus, our global network connects you with exclusive opportunities to help you find the right fit.
Our comprehensive approach includes:
- Board Readiness Assessment: Identify your strengths and areas for growth.
- Compelling Board Profile Development: Create a resume and bio that grab the attention of hiring committees.
- Targeted Board Search: Connect with organizations seeking your specific expertise.
- Interview Mastery: Prepare for tough board interviews with confidence.
- Due Diligence Expertise: Learn to tell the difference between an active and a passive board.
Many of our graduates land their first board role within 12 months, proving our method works [source: Internal Veblen data, based on graduate success rates]. You will get outstanding support from our team. We are committed to your success.
You Don’t Need to Be a CEO to Earn Your Place
It’s a common myth that only former CEOs get board seats. That’s not true. Today’s boards value diverse experience and fresh perspectives. Many now look for leaders with backgrounds outside the C-suite [7]. The Veblen Director Programme uses your unique career path to show you how valuable your expertise already is.
Boards need a wide range of skills, like digital strategy, cybersecurity, human resources, marketing, or financial expertise. Your unique background provides powerful insights. We help you explain your value clearly so you can stand out to hiring committees. You have more to offer than you think.
Consider the diverse expertise boards seek:
- Technology Leaders: Guiding digital strategy and innovation.
- Marketing Innovators: Enhancing brand presence and customer engagement.
- HR Executives: Cultivating talent and organizational culture.
- Financial Experts: Ensuring strong financial oversight and growth.
- Sector Specialists: Providing deep industry-specific knowledge.
The Veblen Director Programme teaches you how to frame your experience as relevant and essential. The insights you have are critical for today’s challenging business world. Your existing professional achievements are your greatest asset. We can help you unlock your board potential, no matter your current job title. You are ready for a seat at the table.
Frequently Asked Questions
What is a self-perpetuating board of directors?
A self-perpetuating board of directors is a board where current members choose their own replacements and new members. This means they don’t need approval from outside groups, like shareholders or founders, to fill seats.
You’ll often find this structure in non-profits, foundations, and some private companies. It helps maintain stability and protect the organization’s knowledge and mission. For an aspiring director like you, it’s key to understand how this works.
Key characteristics of self-perpetuating boards include:
- Internal Selection: New directors are chosen by current board members.
- Mission Preservation: They often ensure the board stays focused on the organization’s core values.
- Stability: This model can provide long-term stability in leadership and strategy.
However, this structure has its downsides. Critics say it can lead to an isolated board that lacks fresh perspectives [source: https://boardsource.org/resources/types-of-governance-models/].
Potential downsides include:
- Reduced Accountability: Less direct responsibility to external stakeholders.
- Groupthink Risk: A risk that everyone thinks alike, which can block new ideas and different viewpoints.
- Slower Adaptation: It can be hard to adapt to outside changes without new people joining the board.
If you want a seat on this type of board, you must understand its unique structure. You will need to show how your experience and perspective can add value to the current board, not just disrupt it.
What is a dysfunctional board of directors?
A dysfunctional board of directors is one that doesn’t do its job well. This failure hurts the organization’s leadership, strategy, and performance. Such a board struggles to provide good oversight or guidance, which can weaken management and cause major problems.
Knowing the signs of a dysfunctional board is key for any professional. You want to make a real contribution, not get stuck in a broken system. Identifying these red flags early can save you from a bad experience.
Common signs of a dysfunctional board include:
- Lack of Clear Roles: Directors are unsure of their responsibilities versus management’s.
- Poor Communication: Information doesn’t flow well, leading to misunderstandings and mistrust.
- Infighting or Factions: Board members are openly hostile or divided, making it hard to agree.
- Micromanagement: The board gets too involved in daily operations, stepping on management’s toes.
- Passive Oversight: Directors approve decisions without careful review, acting like a rubber stamp.
- Absence of Strategic Focus: Meetings get bogged down in small details, ignoring long-term strategy.
- High Turnover: Good directors or senior leaders leave frequently.
A dysfunctional board can cause serious problems. These include poor financial results, missed opportunities, ethical issues, and a damaged reputation. Studies show a direct link between how well a board works and how well the company performs [source: https://www.mckinsey.com/capabilities/strategy-and-corporate-finance/our-insights/board-effectiveness-a-guide-for-directors].
Through the Veblen Director Programme, you gain the skills to spot these problems. You will also learn how to avoid these boards or help turn them into effective ones. We prepare you to be a leader, not just a member.
Can you provide examples of passive board of directors scenarios?
A passive board of directors doesn’t actively engage or oversee the organization. Members tend to agree with management without asking tough questions or thinking for themselves. This creates a “rubber stamp” culture where decisions are approved, not debated. Understanding these situations is crucial if you’re looking for a serious board role.
Here are several common examples of passive board scenarios you might encounter:
-
The “Rubber Stamp” Board:
Here, the board regularly approves what management suggests with little to no discussion. Directors might not have the time, knowledge, or desire to look closely at reports or plans. They simply “rubber stamp” every proposal. This can give management too much power and create major risks.
-
The Figurehead Board:
This board is made up of people chosen for their famous names or connections, not their expertise. Their role is mostly for show. They might attend meetings and give general advice, but they rarely get involved in the details or challenge decisions. They are there to look good, not to provide strong oversight.
-
The CEO-Dominated Board:
In this case, a strong, charismatic CEO controls the board’s meetings and decisions. Board members might be too intimidated to challenge the CEO, or they may simply trust the CEO completely. The board ends up doing whatever the CEO wants instead of acting as an independent group. This can shut down different opinions and lead to bad decisions.
-
The “Friends and Family” Board:
Often found in smaller or family-owned companies, this board is made up of people close to the founder or CEO. Because of their personal ties, they may not be objective. Tough conversations are often avoided to keep the peace, which results in weak governance. Few people think for themselves.
-
The Disengaged Non-Profit Board:
In some non-profits, board members love the mission but are not engaged in their legal duties. They might focus more on fundraising than on providing oversight, managing finances, or handling risks. Meetings can be rare, poorly planned, and lack serious discussion on governance [source: https://www.nonprofitpro.com/article/the-passive-board-member-problem-and-what-to-do-about-it/].
Recognizing these passive boards is a key skill for any future director. The Veblen Director Programme teaches you how to spot these situations when you are researching a company. More importantly, it prepares you to be an active, effective board member who can turn a passive role into a chance to make a real impact.
Sources
- https://hbr.org/2005/11/what-makes-a-board-effective
- https://www.councilofnonprofits.org/tools-resources/board-members-roles-and-responsibilities
- https://hbr.org/2012/06/the-power-of-the-advisory-board
- https://corpgov.law.harvard.edu/2006/07/07/the-duties-of-the-board-of-directors/
- https://hbr.org/2023/05/understanding-board-dynamics
- https://www.mckinsey.com/capabilities/strategy-and-corporate-finance/our-insights/the-role-of-the-board-in-shaping-strategy
- https://www.naseo.org/data/sites/1/documents/publications/Diverse-Boards-Make-Stronger-Companies.pdf
