Lastly, what are the pitfalls to avoid and key issues to consider in board development and recruitment?
There are several: 1. Avoid board candidates who serve on an unusually high number of boards—they simply won’t be able to provide the necessary time and effort. 2. For early stage companies, seek out local candidates. In times of stress they will be more accessible, more quickly. 3. Ensure that board candidates are a good fit professionally and personally. Chemistry and experience count. 4. Embrace constructive disagreement. 5. Remember that board members are not employees. BioStrategy Partners appreciates the panel’s time and thanks Chris Pavlides, our moderator, for organizing the program.
