Last month’s column, “Tug of War Between Board and Shareholders,” focused on shareholders’ demands for greater involvement in governance, including determining who sits in the boardroom. My message was to be careful what you wish for; there’s great danger in having board composition driven by disjointed parties with self-appointed agendas.

Here I’d like to look further at who should occupy the seats at the board table. With all due modesty, my years of first-hand experience working with many boards of directors provide a clear picture of what works, and what doesn’t.

What Doesn’t Work Well

It’s always easier to begin with ...