By Mike Shannon
Managing your board of directors is one of the most important—and often misunderstood—responsibilities of a CEO. It’s not just about preparing slides and delivering a polished presentation in the boardroom. The reality is, effective board management happens before, during, and after the meeting itself.
In this article, I’ll share my thoughts on how to manage your board in a way that adds value to your company. My co-host Corey Ferengul and I have seen this process evolve across companies at different stages—from early startups to public companies. Whether you're leading a young venture or a more mature organization, these principles can help you engage your board in meaningful ways.
Beyond the Board Meeting
Most people assume that board management begins and ends in the meeting itself. But here’s the truth: the meeting is only about 30 to 40% of the job. As Corey pointed out, “60 to 70% of board management happens outside of that meeting”. This means building relationships with individual board members and keeping them updated on critical issues before the meeting.
One thing I’ve learned is that board members hate surprises. Bad news, in particular, should never be dropped during a meeting without some prior warning. As Corey likes to say, "Bad news travels fast". If you’re going to be talking about something that’s not going well—whether it’s falling short on revenue or dealing with a new legal issue—it’s important to call key board members ahead of time. This gives them a chance to think through solutions instead of reacting in the moment.
Facilitate, Don’t Dominate
In the early days of running board meetings, I made a common mistake. I thought it was my job to present everything—to give every update, cover every detail, and deliver the entire presentation myself. But, as Corey reminded me, the CEO's role is to facilitate the meeting, not dominate it.
Here are a few key things I’ve learned to make the meetings more effective:
Delegate presentations: Let the functional leaders who are closest to the work present their updates. Your CFO should walk through the financials, and your head of sales should present on sales.
Build credibility: Giving your team the floor shows the board that your leadership is strong, and it gives your team a chance to shine.
Step back: As Corey put it, "A good board meeting is a time for your people to shine". Don’t hog the stage—facilitate the conversation.
Know Your Board Members
Effective board management requires you to know your board members on an individual level. Each person brings unique expertise, and it’s your job as the CEO to leverage that expertise in the right way. As Corey said during our discussion, "The board isn’t the enemy". They are there to help, but they can only do that if you’re tapping into their skills.
Here’s what I’ve found works best:
Understand their strengths: Some board members will be better at financial models, while others will have deep industry knowledge. Know who to turn to for what.
Reach out individually: Don’t wait for formal meetings. Schedule 1-on-1s to get their insights ahead of major decisions.
Leverage their networks: Board members often have connections that can help you move forward. Use them!
The Role of Communication
One of the most important aspects of board management is communication. Don’t rely on the board meeting itself to be the first time your board hears about major developments. You should be in regular contact with individual board members—especially on issues that require their expertise. As Corey mentioned, "Bringing the board along with your thinking is key to managing them effectively".
Here’s how I handle communication with my board:
Send updates ahead of time: Provide key information, especially on big decisions or strategy shifts, before the meeting. This gives them time to digest the information and come prepared.
Call key members before the meeting: If something significant is coming up, have 1-on-1 conversations before the meeting. This reduces surprises and leads to more productive discussions.
Keep them informed regularly: Beyond the quarterly meetings, make it a habit to stay in touch with your board members individually.
Final Thoughts
Board management is more than just delivering a smooth presentation every quarter. It’s about building relationships, communicating effectively, and leveraging the strengths of your board members to benefit the company.
If there’s one thing I’ve learned, it’s that board management is not a “check-the-box” activity. It requires active engagement, transparency, and trust-building. When you approach it that way, your board can become one of the most valuable assets your company has.
-Mike Shannon
Co-Host of Opening the C-Suite
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