Public Board Positions are just not fun anymore
I attended a CEO Netweavers Board Group meeting last week; one of the participants (a former CEO of a multi Billion company and a veteran member of both public and private company boards) pointed out that being on a Public Company Board was just not fun anymore.
There was much discussion on this topic. The consensus is that most of the time spent by board members of public companies is spent on defense:
Making sure they do not get sued.
Making sure all of the many and confusing SEC requirement are met.
Worrying about SOX and 404 etc,
Dealing with activist shareholders
Etc.
On the other hand boards of private companies spend most of their time on corporate business strategy. In other word the fun stuff. I think I like the fun stuff better.
