I honestly haven’t thought especially in depth or meaningfully about the LTBT and this is zero percent a claim about the LTBT, but as someone who has written a decent number of powerpoint decks that went to boards and used to be a management consultant and corporate strategy team member, I would generally be dissatisfied with the claim that a board’s most relevant metric is how many seats it currently has filled (so long as it has enough filled to meet quorum).
As just one example, it is genuinely way easier than you think for a board to have a giant binder full of “people we can emergency appoint to the board, if we really gotta” and be choosing not to exercise that binder because, conditional on no-emergency, they genuinely and correctly prefer waiting for someone being appointed to the board who has an annoying conflict that they’re in the process of resolving (e.g., selling off shares in a competitor or waiting out a post-government-employment “quiet period” or similar).
I honestly haven’t thought especially in depth or meaningfully about the LTBT and this is zero percent a claim about the LTBT, but as someone who has written a decent number of powerpoint decks that went to boards and used to be a management consultant and corporate strategy team member, I would generally be dissatisfied with the claim that a board’s most relevant metric is how many seats it currently has filled (so long as it has enough filled to meet quorum).
As just one example, it is genuinely way easier than you think for a board to have a giant binder full of “people we can emergency appoint to the board, if we really gotta” and be choosing not to exercise that binder because, conditional on no-emergency, they genuinely and correctly prefer waiting for someone being appointed to the board who has an annoying conflict that they’re in the process of resolving (e.g., selling off shares in a competitor or waiting out a post-government-employment “quiet period” or similar).