Board guide
Make your board of directors a growth tool.
THE MISSION
KEY FIGURES
Find out in this guide
Board structure and size
It is recommended to maintain small boards, composed of 3 to 5 directors up to series B, and 6 to 8 beyond.
Role and responsibilities:
A clear separation between the roles of directors and management is essential. The CEO is responsible for defining the strategy submitted to the board, which must challenge it and make changes if necessary.
Diversity and inclusion
The diversity of profiles within the board is crucial: diversity of skills, experiences, genders, ages and cultural origins.
Board structure and size
It is recommended to maintain small boards, composed of 3 to 5 directors up to series B, and 6 to 8 beyond.
Role and responsibilities:
A clear separation between the roles of directors and management is essential. The CEO is responsible for defining the strategy submitted to the board, which must challenge it and make changes if necessary.
Diversity and inclusion
The diversity of profiles within the board is crucial: diversity of skills, experiences, genders, ages and cultural origins.
SUMMARY
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The board of directors, commonly called by its English name “board”, is a governance body that is as essential as it is complex to manage: because it represents all shareholders but must serve the interests of the company; because it validates the strategy but does not define it; because it is a place of power with a fragile balance, which brings together members - investors, founders, independent directors... - whose philosophy and objectives differ; finally, because it is a place of power with a fragile balance, which brings together members - investors, founders, independent directors... - whose philosophy and objectives diverge; finally, because it does not define it; because it is a place of power with a fragile balance, which brings together members — investors, founders, independent directors... its evolution is also a crucial issue to support effectively the various stages of the development of a start-up.
The Galion Project is deepening its thinking and sharing of expertise on governance, a strategic subject for entrepreneurs, by publishing a Best Practices Guide on the board, in line with the Galion Term Sheet.
This publication is in line with Galion's mission: to contribute to the development of the Tech ecosystem by helping the founders of start-ups and scale-ups to face the challenges of growing their companies.
This Board Guide is based on 4 types of content:
- recommendations based on feedback from Galleon entrepreneurs and investors;
- comments explaining what explains and motivates these recommendations;
- boxes clarifying legal issues, written by White & Case;
- an example of a board pack created with 2CFinance, which everyone can appropriate and amend according to their needs.
The recommendations are written in English to be more easily shared and discussed with international investors.
The comments, as well as the boxes, are written in French in order to facilitate their comprehensive understanding by entrepreneurs in the French ecosystem.
OUR SUGGESTIONS
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