Building a Board of Directors for Self Funded Searchers

searcher profile

November 09, 2023

by a searcher from University of Illinois in Chicago, IL, USA

When building a board of director, is it a conflict of interest if the chairman does business in the same industry outside of your organization? Would you allow this or is it best for all BODs to be retired?

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commentor profile
Reply by a searcher
from University of Central Florida in Atlanta, GA, USA
You’d just need to make sure you wouldn’t end up acquiring anything that competes with them. But honestly, not many active operators are interested in a full chairman of the board level engagement.

Unless your search is super niche, you can probably find an accomplished operator to advise you that is already retired.
commentor profile
Reply by a searcher
from University of Illinois in Chicago, IL, USA
Thank you .
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