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The 70:20:10 Rule of Board Learning by Debra Beck
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How Your First Board of Directors Shapes Your Company

entrepreneur.com

Why create a BOD?

BODs exist to represent the interest of all shareholders. If you maintain 51 percent of your company’s equity, then the board actually answers to you. If you took venture capital, diluted shares or even went public, then odds are you report to the BOD. The shareholder always is the boss. The BOD serves as the shareholders' representative and has authority to execute their will, which could include replacing you....

Mentions: Shareholders