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Building a High-Impact Board in a 'Stretched-Thin' ETA Market

13 snips
Jun 9, 2025
In this insightful discussion, Anthony Walker, a veteran in ETA strategy at Next Coast Legacy, and Megan Webster from Mayer Brown share their expertise on building effective boards for lower-middle-market businesses. They delve into the critical need for accountability and character in board members, emphasizing that a strategic fit is more important than just a checklist. The duo also highlights the challenge of sourcing experienced members in a 'stretched-thin' market and the value independent members bring to the table, navigating the complexities of governance.
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INSIGHT

Role of a Board

  • A board sets the strategic direction and oversees the company to improve its health.
  • It provides management with essential strategic advisors and subject matter experts.
ADVICE

Build Complementary Skill Sets

  • Build boards with complementary skill sets tailored to the CEO's experience and business needs.
  • Include industry experts, governance advisors, and those who help define key metrics and reporting.
ADVICE

Prioritize Accountability Over Roles

  • Prioritize board members who offer honesty and hold the CEO accountable.
  • Avoid treating board building as a checklist of specific roles.
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