More PE Week Wire Comments About VC Board Governance Initiative




Responding to the comments posted today about “A Simple Guide…” by Dan Primack on PE Week Wire,   The Working Group on Director Accountability is, in fact, tracking the names of companies from the portfolios of the Group members that are adopting the education modules in the white paper.  We have developed a brief questionnaire to be filled out by either the CEO or board chair to track which of the three education modules are being adopted and whether there are any recommendations for changes to the Guide.  In the short time since the paper has been out, I have already seen process change improvements in two of my portfolio companies as a direct result of adopting the paper’s recommendations. 

A general comment regarding the applicability of many of the Guide’s points to non VC-backed companies raised by Jen —I do think that the challenges faced by most boards are broadly similar—maintaining communication channels open, properly managing expectations, and managing conflicts of interest during extraordinary events (new financings, m&a, CEO transitions, etc.).  Specialists in other branches of private equity could benefit from similar collaborations that address and incorporate the nuances of the buyout environment as distinct from VC for a similar initiative. 

For those interested in an interactive web discussion on this topic, a live webinar will occur today from 9AM to 10:30AM PST sponsored by DowJones VentureOne.

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