Illustration by Olga Aleksandrova
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Public company boards are typically focused on oversight, supporting the management team while keeping a respectful distance from day-to-day operations. In contrast, boards of companies owned by private equity tend to be much more hands-on. Often populated by former CEOs, these boards are more likely to get involved in shaping strategy and culture, providing information to the company, and actively engaging with future CEO candidates further in advance of succession.
Public company boards have made quite a few upgrades over the past decade. They have become far more diverse, more focused on risk management, and more attentive to the environmental impacts of the companies they oversee.