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Effective Boards Require Experienced Leadership
Hiring and firing a CEO is a critical responsibility of board members, yet many lack the necessary experience to execute this role effectively. Merely having been a CEO does not guarantee an understanding of the complexities involved. Board members should have extensive experience and knowledge about the various situations requiring such decisions. Engaging in dialogue with fellow board members and the CEO to define and agree on each member's role enhances clarity and efficacy in board governance.