The composition of the board must create value
A board must be composed on the basis of several parameters. The strategy, objective, need for development, ownership, and not least the line of business has significant importance for the company.
At the same time, it is decisive that the board room is a space with capacity for constructive debate and an efficient decision-making process, in which all members can speak freely and be able to put their individual mark on the dialogue.
Satisfying and productive board work happens when the board is composed of members who can both match and supplement each other’s competencies and experiences. The board must as a whole possess relevant and adequate knowledge along with professional experience in terms of the company’s demands.
Additionally, it is important to assemble a board which has the capability to engage in efficient and qualified dialogue with the company’s executives and owners. Also in terms of aligning the board’s work with the company’s strategic development and future opportunities.