On Boards Podcast

Joe Ayoub & Raza Shaikh
  • 5.0 (16)
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  • UPDATED MONTHLY
On Boards Podcast

A company’s Board of Directors or Advisors often has a pivotal role in the success or failure of a business, whether a company or organization lives or dies - - and whether the people who have invested time, money and emotional capital will succeed. On Boards Podcast: A Deep Dive at Driving Business Success, is about everything related to Boards of Directors and Boards of Advisors. Twice a month, in 30 minutes, hear and learn about all aspects of boards and business governance. 
In each episode co-hosts Raza Shaikh and Joe Ayoub interview a guest who has experience with boards - as a board member, a CEO, an investor or an advisor, among other roles, for a conversation on a wide range of topics including: What makes great boards great? What makes a board unsuccessful? How to be a good board member? How to make your board one of the most valuable assets of your company. They discuss public, private, non-profit and start-ups (which they believe is its own category) boards - the work they do, the impact they have and their potential to be profoundly impactful on the organization they serve. On Boards Podcast is for anyone who is a board member, would like serve on a board, is an owner of a business, a member of a non-profit organization, an investor in a business or is interested in Board of Directors or Boards of Advisors or business governance.

  1. 3 DAYS AGO

    Navigating Board Stages of Startup Boards: Insights from Chris Cuddy, Board Chair of ezCater

    In this episode of On Boards, Chris Cuddy, a seasoned executive and board leader with over 25 years of experience growing technology-enabled companies in both the private and public sectors shares invaluable insights into the evolution of a company’s board as it progresses through different growth stages.  He discusses how the board’s role shifts over time from hands-on support to formal governance. His unique perspective is informed by his extensive career, including key roles in companies like Cheapflights, Engage, and ezCater, as well as his background in consulting, investment, and board leadership. Key Topics Discussed: Stages of Board Evolution in Startups Seed Stage: Founders are often the primary board members, with activities blurred between governance and management. Chris recalls the “early days” of ezCater, likening the stage to “two founders and a PowerPoint.” Startup Stage: Boards begin to focus on defining product-market fit and may introduce angel investors. Chris describes his hands-on involvement with ezCater at this stage, from customer calls to financial planning. Growth Stage: The board’s role formalizes with the introduction of venture capital. The addition of independent board members and committees becomes essential in order to scale. Chris shares how ezCater’s board evolved to support rapid expansion across the U.S. Maturity Stage: The board is now primarily focused on governance, with a clear distinction between board and management roles. Chris reflects on how the board transitions into “maintenance mode.” Renewal or Decline: Boards help strategize paths to either reinvigorate or prepare for acquisition. Chris recounts his experience with Engage, navigating challenges during the tech bubble burst. Key Traits of a Functional Board Selecting board members with domain expertise, cultural fit, and a shared commitment to supporting the company. Chris discusses the importance of a highly functional board in advancing a company’s mission and creating stability. The Role of the Board Chair Chris highlights the importance of the board chair as a bridge between the founders and board members, ensuring transparent communication and balanced input. He shares insights on the unusual longevity of his role as ezCater’s board chair, attributing it to his ability to adapt as the board and company evolved. Unique Challenges and Responsibilities in Early-Stage Boards Chris describes the blurred line between governance and management in the initial stages, emphasizing that board members may often act as extensions of the executive team, especially in strategic, operational, and fundraising efforts. Building the Board with Intentionality Chris emphasizes the importance of selecting investors who bring value beyond capital, often influencing the board’s dynamic and direction. Chris and Raza discuss the need for careful vetting of potential investors and board members to maintain a cohesive and effective board culture. Memorable Quotes: Chris Cuddy on the role of the board in the growth stage: "The ambition and time frames often require venture capital, but this step requires serious reflection. ‘Will this change the DNA of the company?’” Board dynamics: “A functional board isn’t just about expertise—it’s about cultural fit and motivation to support the founders and company’s best interests.” On the board chair’s responsibilities: “The chair is a bridge between board members and founders, ensuring transparent communication and insuring that everyone’s voice is heard.”  Takeaways for Board Members and Founders: Understand the shifting role of the board at each company growth stage. Prioritize a balanced board composition that brings both expertise and alignment with the company’s culture. In early stages, board members often play a quasi-executive role, actively participating in operational decisi

    32 min

  2. NOV 4

    The Evolving Role and Challenges of Board Governance with Pam Lenehan

    Episode Summary In this insightful episode of On Boards, hosts Joe Ayoub and Raza Shaikh welcome Pam Lenehan, a seasoned board member with over 22 years of experience on public company boards. Pam offers an in-depth look at the evolving responsibilities of boards and their members, including critical areas like cybersecurity, ESG, and CEO succession.   Drawing on her experience across seven public company boards, Pam discusses the increasing complexity of board roles, committee responsibilities, and the importance of a collaborative, learning-focused approach for today’s directors. Key Topics Discussed: The Expanding Role of Boards in Risk Management Pam explains how boards are increasingly required to manage a broader spectrum of risks, from cybersecurity and AI to unexpected events like pandemics. She highlights the need for board committees (audit, compensation, technology) to coordinate their oversight on key issues and work with management to stay proactive.   Board Dynamics: Shifts in Meeting Structure and Time Commitments The increased reliance on digital platforms has, among other things, led to voluminous board materials, often reaching hundreds of pages. Pam shares how boards are restructuring their meetings to prioritize discussion over presentation, with a growing emphasis on pre-meeting preparation.   Pam notes how the frequency of both board and committee meetings has increased, with some public company boards now often holding eight or more meetings annually.   Maintaining Collegiality Amid Virtual and Shorter In-Person Meetings As more meetings shift online or the agenda is so packed it leaves little time for social interaction, the value of planned social opportunities, even brief breaks, to foster trust and rapport among board members. Pam’s insights on “planned socialization” underscore its role in facilitating effective communication and decision-making. Evolving Expertise on Boards: Moving Beyond Generalists With a growing need for specialized knowledge in finance, industry, and technology, boards are increasingly composed of directors with specific expertise. Pam shares practical advice on balancing specialized skillsets and emphasizes that most board member should still possess a solid understanding of broader governance areas, even beyond their primary expertise.   The Role of the Board Chair and Lead Director Raza and Pam discuss the crucial role of the board chair in ensuring all voices are heard and the board remains aligned. With a diverse array of specialists now joining boards, the chair’s leadership is increasingly important to synthesize perspectives and guide effective discussions.   The Influence of Shareholder Activism and Public Company Challenges Pam recounts her experiences with shareholder activists, noting how modern boards must be prepared to engage with sophisticated activist stakeholders. For directors, understanding activist perspectives and strategizing responses requires both diplomacy and transparency.   The Time Commitment of Board Service For anyone considering board service, Pam provides a candid look at the significant time and energy required. Acknowledging that board roles demand consistent weekend reading and adaptability for unscheduled meetings, she advises prospective directors to consider the full requirements of a board commitment before joining a board.   Continuous Learning and Networking for Directors Pam discusses the importance of ongoing education in governance, such as through the NACD, board excellence centers, and director forums. She advocates for cultivating networks with other directors to share experiences and insights, particularly on emerging or complex issues.   Supporting Diversity and Inclusion on Boards A proponent of diverse board representation, Pam shares her efforts to mentor women preparing for board roles. She encourages both current and aspiring board members to

    27 min

  3. OCT 2

    Christopher Mirabile on the many challenges of a successful startup

    In this episode, Christopher Mirabile, Executive Chair of Launchpad Venture Group, explores the pivotal role of boards in startup companies and discusses how boards can be both a critical support system as well as a driver of success. We love our listeners! Drop us a line or give us guest suggestions here. Big Ideas/Thoughts/Quotes “Life is too short to suffer with the wrong people in your boardroom.” Startup Boards are different, but still vitally important “Boards have featured prominently in my entire professional life.” “When I was a consultant with the strategy group at Pricewaterhouse, ultimately our work was commissioned by boards and delivered to boards, and those board presentations when I was lucky enough to be in the room as a young person on the team were some of the most high-pressure situations that I ever was in professionally and left a real impression on me.” “When I got into the startup world, I sort of had to unlearn a certain amount of what I’d learned about boards and moved to the end of the spectrum where boards provide as much mentoring and business value as they do governance.” “Startup boards tend to be a little smaller, a little bit more nimble and often the membrane between shareholders and directors is much thinner because you often see meaningful representation direct from the shareholder base on the board.” “When you run into resistance from a founder [about a board], it's often really more of an educational journey than a negotiating journey to try to get them to understand the value of a board.” Why is a board important for a startup? Your investors want it and you're not going to be able to raise money without it and why would you reinvent the wheel when you can have people who made those mistakes before and can help you avoid wasted time and wasted resources. “A big part of what [we] do is help CEOs understand that …if you go into a relationship with your board, it's sort of like an intellectual partnership where you bring the courage to admit you don't have all the answers and you really seek to draw the wisdom out…”  …If you show me a CEO that's failing, I'll show you a board that's failing to support that CEO properly … Attitude of Startup board members “I don't want to be anywhere near the blast radius of a startup that fails, so I want to make sure that this company is going to succeed…” Feedback to CEO after a Board Executive Session A great way to give feedback after an executive session is: "Hey, let's just do a little case study here. In the meeting, you said this, here's what they heard..." and then it's not an in-your-face criticism, it's just helping them understand how they're being perceived and how their choice of words and their manner of speaking and their style affects the impact of their communications…I think that can be a very effective non-confrontational way to give quick feedback to a CEO.  The Independent Member of a Startup Board “What we're looking for is two things. One is the avoidance of some negatives and the other is certain positives. I'll start with the avoidance of the negatives. We don't want an inexperienced blowhard who has a lot of ego involved in telling people what to do and insisting that their advice be followed, and someone who contributes to a board meeting in a manner which sucks all the oxygen out of the room and makes it super awkward to disagree with them.  We're looking for someone who has a little bit of experience, understands boards are a working thing and that startups are an imperfect science and they're not going to be a disruptive or difficult board member. That's the kind of the key negatives that we're looking to avoid.  In terms of the positives, really, we want someone who understands the industry dynamics, understands the players, knows who the company and the CEO should be talking to, and has that bigger perspective, who can put the day-to-day operational

    40 min

  4. SEP 15

    Rick Williams on his new book: Create The Future!

    In this episode, Rick Williams, a seasoned executive, advisor, board director, prolific writer - - and the author of the new book, Create the Future, shares his journey writing the book and key leadership takeaways. Rick’s core idea in Create the Future is that leaders create the future by the decisions they make Impactful leaders believe they can create the future, and they change uncertainty into hope and possibility. Rick discusses the CTF process of making great decisions for companies and individuals including the importance of board dynamics and how to harness the collective wisdom of a diverse group to make impactful decisions. We love our listeners! Drop us a line or give us guest suggestions here. Big Ideas/Thoughts/Quotes 1.    Journey of Writing Create the Future ·      Initial book concept during travels in North Africa while sitting in a café in Casablanca ·      Wrote the book and refined it with the help of a professional editor. ·      It took more time than I expected to choose the right publisher, Amplify, to bring the book to market. 2.    Overview of Create the Future Create the Future outlines the process and the tools successful leaders use when they must make an important decision - when they must get it right. Rick profiles the Five Step decision making process major consulting firms recommend for making important decisions and brings the tools and techniques to organizations off all sizes. Create the Future is a guidebook for leaders who want to turn their leadership team into a powerful creative engine for defining the challenge, imagining success, creating realistic options, evaluating execution barriers, and finally choosing the path forward.   3.    The Five-Step Decision-Making Process “I spent quite a bit of time on how do you as a leadership team - a board of directors for example - how do you actually go about deciding what you're really going to do.” “This book outlines the five steps that we all either instinctively use, or should be using, when we have an important decision to make.” ·      Define the real opportunity or threat. ·      Identify what success looks like ·      Be creative about the options. ·      Evaluate execution barriers. ·      Make the final decision.   4.    Factors to be Considered in Decision Making ·      How close do the decisions come to achieving the goals you set?  ·      Where are they in the risk profile in terms of acceptable risk to you or unacceptable risk to you? ·      How do they express the values that you may have as a company owner or your board may have.   5.    Examples and Applications The CTF process makes sure that everybody on the board participates in the conversation, their point of view is heard, and they hear each other talk about it. They hear each other say what they really are trying to accomplish. “We talk about success, which sounds like a simple idea, but the notion of what are we really trying to achieve is one that often we don't spend enough time on.” “Value is not created by the ideas we come up with - value is created through execution on the decisions we make.” “Often we as board members either don't have time or haven't fully thought through what are the values that we bring to the decisions we make, what are our risk preferences, and also what are the values and goals of other people on our board and how do they factor into this?” In the end, the board will make a decision, and the people who participate in this will say: “You know, I may not fully agree with where we're going to go, but my voice was heard, and I now understand what other people are trying to do and where they're coming from.”  Joe: If you have the people in the room, whoever they may be board or otherwise, feeling at the end of the process like their voice has been heard, their idea

    30 min

  5. JUN 4

    Navigating Board Dynamics and Strategic Leadership with Karen Boykin-Towns

    With an extensive background in policy, advocacy, and corporate governance, Karen shares insights from her roles at Pfizer, iFIT Health & Fitness, and the NAACP.   She recounts her journey to becoming a board member including her experiences during the IPO process at iFIT, and the challenges and triumphs of leading through turbulent times.   Additionally, Karen reflects on the significance of diversity in board composition and the enduring impact of Brown v. Board of Education on the 70th anniversary of the decision.    We love our listeners! Drop us a line or give us guest suggestions here. Big Ideas/Thoughts/Quotes 1.   First For-Profit Board Experience: iFIT Health & Fitness Karen recounts her journey leading to joining the board of iFIT Health & Fitness, her first for profit board seat, emphasizing the importance of networking and building relationships. She shares how an unexpected opportunity arose from her connections with the Church of Latter-Day Saints and describes the rapid onboarding process and initial experiences as a new board member during a critical time for the company. "You never know who's watching, it came through a relationship." Challenges and Decisions During the IPO Process Karen provides an inside look at the fast-paced environment leading up to iFIT’s planned IPO. She discusses the board’s decision-making process in response to adverse market conditions and the strategic adjustments that were necessary. The conversation highlights the importance of having a diverse and well-composed board to navigate events that are significant & challenging for a company.  "When you are preparing an S-1, you learn everything about a company very quickly."   "The numbers weren't where they were projected to be at that particular time, and I'm really proud of us because it could have been easy to just buckle down and go forward, but that was not the right thing for the company." Post-IPO Attempt and Company Turnaround The discussion moves to the aftermath of the decision to not proceed with the IPO and the strategies employed to stabilize and grow iFIT Health & Fitness. "What I'm happy to say is that despite the overall industry being at a bit of a downturn, we have come through the worst of it, at least we hope we've navigated through the turmoil and are at a new era." 2.   Work at Pfizer Karen reflects on her 20-year career at Pfizer, where she transitioned from government work to corporate affairs. She discusses her role as Pfizer’s first Chief Diversity Officer and the development of a global diversity and inclusion strategy. Leadership During COVID-19 Karen discusses the significant challenges and achievements of Pfizer during the COVID-19 pandemic under the leadership of Albert Bourla. Karen’s insights emphasize the critical role of strong leadership in navigating crises and driving impactful results. "I believe to my core that no one else could have gotten that company to have that level of impact in such a short period of time [during the Covid outbreak] other than Albert Bourla and the team that he leads." "Leadership matters" 3.   Role with the NAACP Karen is the Vice Chair of the NAACP’s National Board of Directors and provides an overview of her role discussing the organization’s mission, structure, and its ongoing important advocacy work. She also reflects on the 70th anniversary of the Brown v. Board of Education decision and its lasting impact on education equality. The conversation underscores the importance of historical context in shaping current and future initiatives for civil rights and social justice. On recognizing the 70th anniversary of Brown v Board of Education in the Oval Office “It is a moment I will never forget and it's not just about being in the Oval Office with the President, but it was being there with these family members who had made so many sacrifices."   4.     Final Thoughts and Takeaways The episode conclude

    35 min

  6. MAY 28

    The Culturally Conscious Board

    Jennifer Jukanovich, a seasoned nonprofit leader with nearly three decades of experience discusses her forthcoming book, The Culturally Conscious Board: Setting the Boardroom Table for Impact, which explores the importance of board culture in achieving organizational success. The conversation addresses a number of important aspects of board governance, including board culture and the critical role of trust and humility. We love our listeners! Drop us a line or give us guest suggestions here. Big Ideas/Thoughts/Quotes 1. The Culturally Conscious Board ·      Two important concepts which are emphasized: o   The significance of board culture and its impact on decision-making and governance, and the role of trust, humility, and hospitality in building an effective board culture. o   Jennifer’s closing thoughts on the importance of strong board culture in the nonprofit sector. ·      Encouragement for boards to engage in deeper conversations and continuous improvement. ·      Introduction to the "board culture placemat" and its use in facilitating board discussion and b building a strong board culture. ·      Examples of successful practices for building and maintaining a healthy board culture. "Boards are assets to our society, and our hope is that our book, The Culturally Conscious Board, will contribute to that conversation."  Jennifer Jukanovich   Book Reviews “Sitting on a board is easy. But being a great board member is another matter entirely, especially if your organization needs change. Jukanovich and West show you how to do it with confidence and grace.” Arthur C. Brooks, Professor, Harvard Kennedy School and Harvard Business School, and #1 New York Times bestselling author   “‘Culture eats strategy for breakfast,’ Drucker said, and most boards don’t explore how their culture either detracts from or advances their mission. This work invites boards to move from habits and traditions that restrict their impact toward deeper examinations to make wise changes and meet the challenges of our day.”   Robert C. Andringa, Managing Partner, The Andringa Group, and coauthor of Nonprofit Board Answer Book   2. Challenges and Opportunities in Board Governance o   The importance of diverse representation and an inclusive board culture. o   Practical advice on improving board culture, including transparency, accountability, and feedback mechanisms. o   Addressing issues such as long-term leadership and the balance between large boards and effective decision-making. "Humility catalyzes greater trust, whether that is your family or that's a board."   "Good governance creates health. Good boundaries create healthy culture."  4. The Critical Partnership between the CEO and the board chair o   How the board chair can help ensure all voices are heard and foster a culture of openness and respect.

    37 min

  7. MAY 5

    Transforming D&O Insurance: Innovations in Directors & Officers Coverage

    In this episode Michael Talmanson and Dereick Wood discuss the critical importance of D&O coverage for board members. They set the context with a backdrop of Newfront's recent capital infusion led by Goldman Sachs emphasizing the company's innovative approach to combining technology with insurance expertise. We love our listeners! Drop us a line or give us guest suggestions here. Big Ideas/Thoughts/Quotes 1.   Background & industry evolution ·      Michael shares his transition from legal practice to insurance, driven by a passion for technology and client service. He discusses how Newfront's technology platform and AI tools modernize the insurance experience, enhancing client's ability to manage and predict risks. ·      Dereick discusses his extensive experience in handling complex D&O claims, underlining the evolution of claims and the increasing magnitude of derivative settlements. “The differentiator is the information you can provide boards to make informed decisions about their actual losses.” 2.   Newfront’s Innovation & Impact on the Insurance Market ·      Newfront's strategy of blending high-tech solutions with traditional brokerage services to address the needs of a rapidly changing market. Michael highlights the critical role of experts like Dereick in navigating complex claims, underscoring the blend of technology and human expertise. ·      Discussion on Newfront’s "breakthrough" technology which simplifies processes like contract reviews and risk assessments through AI, setting a new standard in the insurance industry.    “Since 2020, seven of the top ten largest derivative settlements have occurred, and the people on my team have been involved in all those settlements” 3.   D&O Insights ·      Comprehensive breakdown of D&O insurance coverage (Side A, B, and C) and its importance from a buyer's perspective. Michael and Dereick discuss practical scenarios and the vital protection D&O insurance provides to board members against potential liabilities and lawsuits ·      Dereick provides insights into recent high-profile cases and settlements, demonstrating the critical nature of D&O coverage in protecting board members during legal challenges ·      Strategic recommendations for board members to ensure adequate D&O coverage, emphasizing the importance of understanding policy details and the implications of board decisions on insurance claims ·      Michael and Dereick providing practical advice to board members on avoiding litigation and ensuring robust D&O coverage. They stress the importance of diverse opinions and backgrounds on boards to enhance decision-making and risk management   “No matter what happens from a technology perspective, insurance will always require experts. People like Dereick on the claims side, D&O experts, cyber experts.  People will never be replaced by technology."

    38 min

  8. APR 15

    Michael Greeley on the trends in composition of boards in investor backed companies

    Michael Greeley has extensive experience in venture capital and significant board experience across a multitude of investment boards. In this episode, he shares his experience and lessons learned, emphasizing the evolving nature of board governance, the strategic importance of independent directors and the future of healthcare. We love our listeners! Drop us a line or give us guest suggestions here. Big Ideas/Thoughts/Quotes 1.     Evolution of Board Composition of investor-backed boards Changes in the composition of investor-backed boards over the past 25 years, emphasize the need for a broader range of competencies beyond financial performance. The trend is to include diverse perspectives to help mitigate boardroom “groupthink.” "Boards today are very deliberately trying to have the right competencies... Today the pressure on boards is to have a much wider range of expertise; cybersecurity, sensitivity around DE&I issues, and we're seeing that reflected in our term sheets.   2.     Challenges in Board Compliance Discussion on the difficulties boards face in complaining with term sheets guidelines, particularly around independent directors and diversity. "We did an audit... and said, 'How many of our companies actually have complied with that (term sheet requirement)?' And we were surprised, it was probably maybe half or two thirds… and frankly, if I could be just brutally honest, I think there's a little bit of an apathy to address deficiencies of boards."   3.     Importance of Independent Directors The role of independent directors in providing an unbiased 'voice of the customer' to help guide company strategy and product market fit. "The power of that [independent director] is a little bit sector specific but I think it cuts across all sectors, the principal risk we take as healthcare tech investors is around product market fit, and independent directors are the voice of the customers."   Governance and Board Dynamics Michael's advocacy for more effective boards and the potential pitfalls of having too many observers or management members “in the room.” "I'm a traditionalist in the sense that the board should not be stacked with management because it is meant to be the body that opines on the strengths and shortcomings." Future of Healthcare Michael's optimistic outlook on the 'golden age of healthcare' driven by technological advancements, regulatory changes, and innovative business models. "Arguably, the golden age of healthcare is upon us as the sector embraces novel and impactful solutions to improve outcomes and lower the cost of care."

    29 min
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About

A company’s Board of Directors or Advisors often has a pivotal role in the success or failure of a business, whether a company or organization lives or dies - - and whether the people who have invested time, money and emotional capital will succeed. On Boards Podcast: A Deep Dive at Driving Business Success, is about everything related to Boards of Directors and Boards of Advisors. Twice a month, in 30 minutes, hear and learn about all aspects of boards and business governance. 
In each episode co-hosts Raza Shaikh and Joe Ayoub interview a guest who has experience with boards - as a board member, a CEO, an investor or an advisor, among other roles, for a conversation on a wide range of topics including: What makes great boards great? What makes a board unsuccessful? How to be a good board member? How to make your board one of the most valuable assets of your company. They discuss public, private, non-profit and start-ups (which they believe is its own category) boards - the work they do, the impact they have and their potential to be profoundly impactful on the organization they serve. On Boards Podcast is for anyone who is a board member, would like serve on a board, is an owner of a business, a member of a non-profit organization, an investor in a business or is interested in Board of Directors or Boards of Advisors or business governance.

Information

  • Creator
    Joe Ayoub & Raza Shaikh
  • Years Active
    2020 - 2024
  • Episodes
    75
  • Rating
    Clean
  • Show Website
    On Boards Podcast

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