Yahoo And Hewlett-Packard: How Bad Boards Can Kill A Company [Headlines]
While early-stage companies are especially fragile, one would hope mature ones are less vulnerable to the bad board malady.
“A good board can’t make a company, but a bad one will inevitably kill it.” Thus spake Barry Weinman, the gentleman capitalist, when I joined the VC brotherhood. He meant to tell me to watch out for co-investors on the board of companies in our portfolio of investments. And he was right. We, vulture capitalists, are supposed to be ruthless – but, in fact, we’re toothless. We see trouble ahead, but we dither, we squabble and only make the hard decisions when the damage is done. Guardian