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Three ways to maximise a board

People with right skills and experience should be picked, keeping in mind company's changing needs; talent flow should be ensured.

Published Sun, Dec 11, 2016 · 09:50 PM
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WHEN hotshot biotech startup Theranos completed assembling its board of directors in 2014, it was one of the most illustrious in American corporate history.

It included former secretary of state George Shultz, Bechtel Group chairman Riley Bechtel, former Wells Fargo chairman and CEO Richard Kovacevich, former senators Sam Nunn and Bill Frist, former secretary of state Henry Kissinger and former secretary of defence William Perry.

There was one big problem: Most of the 12-member board, with an average age of 80, did not have any expertise in medical technology.

Theranos, once valued at US$9 billion, shot to fame for its claim t…

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