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In this episode of On Boards, co-hosts Joe Ayoub and Raza Shaikh welcome Ray Garcia, senior partner at PwC and leader of PwC's Governance Insights Center, to discuss findings from its 2026 Annual Corporate Directors Survey. Drawing on responses from more than 600 corporate directors, Garcia explores how boards can improve their effectiveness, strengthen strategic oversight and adapt to a rapidly changing business environment. The conversation examines board assessments, cybersecurity and AI governance, the quality of information directors receive from management, and the need for more deliberate board succession planning.  Garcia emphasizes that effective boards must look beyond current performance and technical expertise to anticipate future needs, prioritize cultural fit and build the capabilities required to support their company's strategy. Key takeaways Board assessments should focus on future performance, not just past performance Assessments are often treated as an annual governance exercise rather than a tool for improving board effectiveness Bringing in an experienced third party to conduct individual interviews every few years can encourage greater candor and uncover issues that surveys alone may miss Assessments should consider where the company expects to be in two to three years and whether the board has the capabilities to support that strategy Cybersecurity is an enterprise resilience issue, not just a technical one AI increases cyber risk as both companies and threat actors use the technology to strengthen their capabilities Boards should conduct tabletop exercises to prepare for potential ransomware attacks and data breaches, clarifying who makes decisions, when the board gets involved and how the company communicates externally Directors need sufficient fluency in cybersecurity and AI to ask management the right questions Better information enables stronger strategic oversight Directors may be able to challenge management more effectively if they receive clearer strategic metrics, alternative strategies, scenario planning, trade-offs and peer benchmarks. Nearly 80% of surveyed directors said management could improve the materials they receive Rather than presenting a predetermined answer, management should bring recommendations that give directors enough information to evaluate assumptions, consider alternatives and exercise meaningful oversight Board composition and succession planning must evolve with business needs More than half of surveyed directors believed at least one board member should be replaced, while 71% said boards needed stronger AI skills Board succession planning should begin with the company's future strategy and the capabilities needed to execute it, rather than simply evaluating individual directors in isolation Skills matrices should be living tools that evolve as business priorities change, rather than static disclosures in proxy statements AI governance requires fluency, education and strategic integration Boards should improve their AI fluency without assuming they necessarily need a dedicated AI expert on the board Directors must understand AI's implications for strategy, risk, organizational culture and employee productivity Boards should evaluate AI as an accelerator of business strategy rather than treating it as a standalone issue. Responsibility for AI strategy rests with the board, while audit or risk committees oversee associated risks Quotes: "Cyber is really not a technical issue for companies. It's quite frankly an enterprise resiliency issue." "Boards that look at AI as an accelerator of the strategy and not its own as its own issue are the ones that are actually succeeding." "The most effective boards are the ones that have built a process and capabilities and culture to continue to evolve in today's world." Links: 2026 Annual Corporate Directors Survey Guest Bio As the leader of PwC's Governance Insights Center, Ray Garcia has over 34 years of experience advising Global Fortune 100/500 companies. He has held key leadership roles at PwC, including overseeing the US and Mexico Assurance Operations. Ray's expertise spans corporate governance, M&A, and ESG, among other areas. Appointed to the Texas State Board of Public Accountancy, he also serves on advisory councils at Texas A&M and Trinity University. In addition to Ray's professional pursuits, he is committed to community service as President of the 100 Club and a board member of the Coastal Conservation Association and the Barbara Bush Houston Literacy Foundation.

In this episode of On Boards, hosts Joe Ayoub and Raza Shaikh speak with Anouk Pappers, CEO of Signitt and founder of CoolBrands People. As a brand anthropologist, Anouk advises board directors, C-suite executives and leadership teams on developing their executive narrative and building their digital reputation.  Throughout her career, Anouk has interviewed more than 900 CEOs, board members and business owners around the world, publishing 15 books around their stories. Anouk shares why networking for a board seat is a long-term process built on relationships, reputation and trust. She also explores how AI is changing the way board candidates are discovered and evaluated, and why leaders need an online presence that is both human-readable and machine-readable while remaining authentic. Key takeaways Your personal brand is already there  A personal brand is not a logo or tagline. It communicates who you are, what you stand for and what you bring to the table. Start by identifying your goals, target audiences, unique experiences and the two or three areas for which you want to be known. Your combination of experiences and accomplishments can differentiate you, even when your individual skills may not seem unique on their own. Purpose makes leaders and organizations memorable People with a clear purpose and vision tend to leave a lasting impression. Purpose extends beyond maximizing profits to considering people, the planet and profit, and integrating broader stakeholder value into a company's business model. A company's brand can evolve over time while its core values remain consistent. Networking for a board seat requires long-term relationship-building Board opportunities often begin with existing relationships and recommendations within a board's professional network. Building relationships with board directors, CEOs, executive teams, and executive search professionals helps increase visibility and credibility. Successful networking requires consistent engagement, trust and a reputation that others feel comfortable putting forward Visibility and positioning are just as important as credentials Education, experience and professional credentials are foundational, but they do not automatically lead to a board seat. Candidates need a clear narrative that makes it easy for others to understand their expertise and recommend them for opportunities. Articles, videos and speaking engagements can create proof points that reinforce credibility of your expertise. AI is changing how board candidates are discovered and evaluated Traditional search engines reveal a person's digital footprint, while AI tools can interpret that information and generate a narrative about the individual. Board candidates should develop an online presence that is both human-readable and machine-readable. Authenticity, human connection, trust and critical thinking remain essential in the boardroom. Quotes "You need to make an impact. You need to share your story over and over again. And you need to make sure that people can remember you." "Everybody has a personal brand… You can take control and define your brand, or you can let it be defined by others or maybe even worse, let it not be defined at all." "AI is really moving fast, but this personal connection, that's what we need. And I think that's what we need to really reinforce in the boardroom." Links Signitt Guest bio Anouk Pappers works with board directors and senior executives on a part of leadership that has become impossible to ignore: how they are professionally perceived when board roles are being considered. She is known for guiding leaders with turning strong executive experience into clear board relevance. Her work focuses on defining the story behind a leader's judgment, perspective, and contribution, strengthening how they are spoken about among their professional peers, and aligning their online presence with the roles they are ready to take on. For aspiring board directors, this creates greater clarity and confidence. For sitting board members, it sharpens positioning, visibility, and influence. A brand anthropologist, author, speaker, and founder of Signitt, Anouk brings together narrative, visibility, and online presence with a clear focus on board positioning. She draws out what matters in a board context: how a leader thinks, what they see, and the value they bring as a non-executive. Anouk's perspective has been shaped by a global career that began in 2002 with "Around the World in 80 Brands," a project that took her across continents in search of brands with purpose and people with vision. From Amsterdam, she expanded her work to Dubai, São Paulo, and New York, collaborating with companies including PepsiCo, Apple, Google, Mercedes-Benz, Harley-Davidson, and Unilever. Over the years, Anouk has interviewed more than 900 CEOs, CMOs, board directors, and senior business leaders, and published 15 books built around their stories and insights. That body of work gave her a rare understanding of how credibility, trust, and leadership value are communicated across industries, cultures, and board-level settings. She is a frequent speaker at board and leadership forums, including NACD, PDA, EWOB, WCD, C200, Deloitte Board Readiness, 50/50 Women on Boards, Women in the Boardroom, DDI, TLN, and ELC. Anouk believes that experience may open the door, but positioning, visibility, and narrative often shape who is remembered, who is trusted, and who is invited into the room.

In this episode of On Boards, hosts Joe Ayoub and Raza Shaikh speak with Betsy Atkins, a three-time CEO, serial entrepreneur, and one of the most experienced public company directors in the U.S., having served on more than 38 public boards and through 17 IPOs. Betsy explains why a board stuck in an oversight mindset can never be a competitive asset, and what it actually takes for directors to lean into growth and innovation: mentoring the CEO, becoming a thought partner, opening doors, and thinking like an owner. She makes the case that the attributes that matter most in a director today are being active, brave, curious, and decisive – and offers practical questions for finding those qualities in a candidate. The conversation also explores the difference between a high-performing board and a change-adaptive one, drawing on Betsy's experience as lead director when an activist arrived, and closes with a hard look at AI governance – why boards should treat AI agents as an insider threat, tier their risk, and make sure the guardrails are actually being enforced. Key Takeaways A board becomes a competitive advantage by leaning into growth, not just oversight Reviewing last quarter and the annual plan is the minimum; companies thrive or melt depending on whether they stay relevant Directors should push the CEO and leadership team to be change adaptive – what's new, where the market is going, who the unexpected interlopers are In practice this means mentoring the CEO, connecting them with other relevant CEOs, becoming a thought partner on partnering ecosystems, and opening doors at the right level when invited Showing up four times a year is a transaction, not a relationship Reading the board package and attending meetings is table stakes, not the job Directors need to invest in the relationship with the CEO – meeting early, meeting outside the boardroom – before their help will be welcomed The highest standard is thinking like an owner: if I had to solve this, how would I go about it? Hire for resume reality, not resume match Board search can be a loss leader for search firms, which creates an incentive to place candidates who look perfect on paper rather than those who deliver value A functional expert from a large-cap company may not bring the generalist, entrepreneurial perspective a board needs The four attributes to seek: active (100% engaged), brave (courage to have meaningful dialogue), curious (open to new models and tools), and decisive (able to act with incomplete information) To test for courage, ask candidates about the hard things they've done, when they took a principled position against the group, and who they admire as courageous You're hiring for the bad times Everybody looks like a genius on a rising tide; equivocating and stalling are decisions too Duty of care means getting objective outside information, but the board is there to exercise business judgment – often with incomplete information Large-company executives are skilled at moving big organizations incrementally, which is the opposite of the personal decisiveness a board crisis demands A high-performing board is not the same as a change-adaptive board High-performing boards have excellent processes for the status quo; change-adaptive boards can absorb and act on something new At HD Supply, Betsy replaced a board dinner with a learning session on digital transformation, bringing in three outside firms so the board could build shared understanding together That shared learning "wove the fabric" that let the board process an activist event as a cohered team Change adaptiveness is a muscle that is often dormant in senior leaders and has to be deliberately created – or recruited for Engage with activists rather than refuse them Activists are shareholders, and there's a wide continuum between confrontational and constructive ones The initial "refusenik" reaction rarely works; the board should ask whether the activist might have a valuable idea and what it would cost to listen Who got you here is not who's going to get you there – the rate of change and the number of macro trends today are different from a decade ago and board composition needs to change accordingly AI governance is the next big thing boards are not ready for Use the cybersecurity playbook boards already know: zero trust, with AI viewed as an insider threat vulnerability Every agent needs a unique cryptographic identity and a human owner in the operating line who is accountable for its purpose and permissions Boards should ask management to tier agent risk: low (read-only), medium (reversible, bounded actions), high (irreversible or material actions such as payments, deleting databases, or exposing customer data) A policy on paper is not enough – someone has to verify there are logs and that incidents are tracked, algorithms are monitored for drift, and there is a way to disable an agent Technology expertise on the board is now a must-have, not a nice-to-have – broad and conceptual, not narrowly functional Board composition and tenure have to keep pace Boards should review their composition regularly, and duration of service probably has to change Companies are less likely to fail from cooked books than from irrelevance – and the glide path is much shorter than it used to be Quotes "It's very easy for boards to be in an oversight mindset. But companies thrive or they melt if they're relevant." "Coming [attending board meetings] four times a year is a transaction, not really a relationship." "Perfect on paper is not always perfect in reality. Perfect on paper is the difference between resume and reality." "You're hiring for the bad times. Everybody goes up with the rising tide." "You have to be decisive because equivocating is a decision. Stalling is a decision. Time is not your friend if there's something really wrong." "Who got you here is not who's gonna get you there." "AI should be viewed as an insider threat vulnerability. Every single agent needs to have a cryptographic, unique identity, and a human owner who's responsible for what is its purpose." "Blockbuster had a decade before Netflix took it out. I don't think you have two years anymore." Links betsyatkins.com Be Board Ready: The Secrets to Landing a Board Seat and Being a Great Director Behind Boardroom Doors: Lessons of a Corporate Director Guest Bio Betsy Atkins is a three-time CEO and serial entrepreneur who has co-founded enterprise software companies in the energy, healthcare, and software industries. She has scaled companies through hypergrowth, helped shape the future of digitization, and led companies to successful IPOs and acquisitions. Since 1994 she has been CEO of Baja Corporation, an independent venture capital firm focused on technology, renewable energy, and life sciences. Betsy has served on more than 38 public company boards and has been through 17 IPOs, with board experience spanning technology, financial services, healthcare, retail, automotive, manufacturing, and logistics. She was a co-founder of Ascend Communications, acquired by Lucent, and CEO of Clear Standards, acquired by SAP. She is a frequent corporate governance commentator and the author of two books, Be Board Ready and Behind Boardroom Doors.

In this episode of On Boards, Jonathan Foster joins hosts Joe Ayoub and Raza Shaikh to discuss what makes a board effective in today's evolving governance landscape. Jonathan is the founder and managing partner of Current Capitals Partners.  Drawing from his experience serving on more than 50 boards, Jonathan's book, On Board: The Modern Playbook for Corporate Governance, shares lessons on board evaluations, activist thinking, shareholder accountability, and why the best directors listen first.  The conversation also explores how boards should approach CEO activism, director offboarding, and the growing influence of AI. Foster argues that directors must actively educate themselves on emerging technologies while maintaining focus on thoughtful decision-making and long-term value creation. Key takeaways Effective directors prioritize listening Strong directors listen before speaking in order to understand the dynamics of the boardroom. Asking thoughtful questions is  more effective than dominating a discussion Credibility is built through observation, preparation, and collaboration – but saying what you think.  Governance history shapes modern board responsibilities Landmark governance cases provide the foundation for today's fiduciary standards Understanding the origins of duty of care and duty of loyalty helps directors make better decisions  Governance principles become more meaningful when directors understand the stories behind them Honest evaluations are critical to strong boards Boards should directly address underperformance rather than avoid difficult conversations Annual evaluations are more valuable than arbitrary term limits If a director is not improving, there should be a respectful and honest process to offboard them  Boards should proactively think like activists Directors should regularly evaluate the company from an outside shareholder perspective Boards can identify strategic weaknesses earlier by considering activist viewpoints internally Jonathan emphasizes balancing short-term pressure with long-term shareholder value creation AI oversight begins with education Directors must actively learn about AI before they can effectively oversee it AI should support board preparation, not replace board judgment and be used in discussions Boards should focus on AI strategy, ethics, governance, and implementation questions Quotes " If you think you're the smartest person in the room, you're probably wrong. But even if you are, every director has just one vote, so you need to develop a consensus to get things done.  " My objective is to not say anything for the first two meetings. I'm just listening; you learn a lot and gain  credibility by just listening first." " I try to make every decision I make as a director, as if my family had 100% of its money in that one company's stock." " I don't want AI in the boardroom — yet. A boardroom is a  place to consider and have conversations and make decisions, not be overwhelmed by data." Links On Board: The Modern Playbook for Corporate Governance jonathanffoster.com Guest Bio Jonathan F. Foster is the founder and a managing director of Current Capital Partners LLC, a mergers and acquisitions advisory, corporate management services and private equity investing firm. Jon spent a decade at Lazard, primarily focused on mergers and acquisitions advisory work, ultimately as a managing director. He has been on more than 50 boards, including Fortune 500 companies, private companies and companies involved in restructurings. Foster has served as chair, lead director and on the three major board committees as well as special, transaction and CEO succession committees. He has been chair of two Fortune 500 Audit committees. He has also been an expert witness in corporate litigation for some 60 cases. With decades of experience, Foster has written, spoken and been quoted frequently about governance and finance topics and has guest lectured at various universities. Jon lives in New York City with his wife and goldendoodle; he has two adult children.

In this episode, Joe Ayoub and Raza Shaikh welcome Mark Hamill, CEO of The Naked Headhunter and co-founder of the Virtual Advisory Board (VAB).  Mark shares the origin story of VAB from its start during the COVID-19 pandemic and how it scaled into a global network of over 1,300 members spanning 4,000 boards. The conversation dives into the power of peer-to-peer networks, the mechanics of building effective boards, and the tangible ROI that strong boards can deliver. They also unpack the realities of board recruitment, what it takes to land a first board seat, and why clarity of expertise and network strength are more important than ever. Mark offers a grounded perspective on the future of board service, emphasizing experience, diversity of thought, and the growing demand for board members who have "walked the walk." Key takeaways Boards deliver outsized ROI when done right Board investment is relatively small compared to impact Experienced board members accelerate growth, decision making and access A small, structured board can shift a company's trajectory by turning big picture ambitions into executable strategy Your first board seat is almost always the hardest to secure Most board roles come through networks, not formal channels Once you secure your first board seat, credibility compounds quickly and future opportunities will tend to follow Mark highlights the importance of understanding yourself and your unique leadership experiences before connecting with networks Community and peer learning drive board success The Virtual Advisory Board thrives on member led engagement and shared experiences The group creates a trustworthy environment for honest conversions where leaders can discuss difficult and high pressure decisions  Members bring live challenges and get immediate input from peers who've faced similar situations Board composition is about complementary experience Strong boards blend industry expertise, scaling experience, and global perspective Diversity of experience leads to better outcomes The most effective boards are intentionally built around the company's specific stage and challenges, rather than prestige or status Quotes: "The strength of your network really becomes 80% of the reason how your next role will be sourced." "We're (VAB) not going to tell you what to do, but we can certainly share experiences of how other people have dealt with it." " Where you are in your board journey, there'll be different tracks internally that you can kind of take depending on where you are in your voyage." Links The Naked Headhunter Virtual Advisory Board Bio Mark is the CEO and founder of Naked Headhunter and has been involved in executive search since 1999. During his career he has placed over 500 executives and he works across all practice groups. Mark began his career at Heineken; serving the company in a variety of commercial roles both in Ireland and in Central Europe. In 1999, he himself was "headhunted" for a job in the executive search sector and has never looked back.

In this episode of On Boards, hosts Joe Ayoub and Raza Shaikh speak with Rod Adkins, board chairman, former IBM executive, and author of Curiosity Redefines the Limits. Rod shares insights from nearly 25 years of board experience, focusing on how directors can effectively oversee risk in an era of rapid technological disruption. The conversation explores how boards are evolving their governance structures to address increasingly complex risks tied to technology, cybersecurity, and artificial intelligence.  Rod explains why traditional audit committees are often no longer sufficient on their own and, as a result, many organizations are forming dedicated risk and technology committees to better manage forward-looking challenges. A major focus of the discussion is AI as a transformative opportunity and a significant threat. Rod frames the present day as a new innovation cycle, emphasizing that boards must strike a careful balance between leveraging AI for competitive advantage and defending against AI-enabled risks.  Key Takeaways Governance must always adapt to technology and rises Boards are moving beyond audit committees toward dedicated risk oversight teams to better address cybersecurity, infrastructure and innovation. Effective governance requires a forward mindset and close alignment with management on navigating change AI requires a balance of opportunity and protection AI can drive efficiency, innovation, and competitive advantage, but also introduces risks like cyber threats and trust challenges Boards must ensure organizations are both leveraging AI and protecting against its misuse "AI vs. AI" As threats become more sophisticated, companies must use AI-powered defenses to protect systems and data Maintaining trust and security will be a core board-level responsibility Curiosity drives better leadership  The best directors ask thoughtful, strategic questions, curiosity helps leaders anticipate change, challenge assumptions, and improve decision-making Quotes  "We're just at the beginning, and we're almost out of breath already in terms of how fast [AI] is moving and how much we see in terms of capabilities and disruption."  "People that adapt to unknown situations and who productively challenge the status quo, have a curiosity or a competitive advantage for them in life and in their careers" "You don't always have to have the answer, but you need to figure out how to ask the right set of questions." Links https://rodneyadkins.com/book/ Curiosity Redefines the Limits: Advantages Gained from Life, the Workplace, and the Boardroom Forbes articles Guest Bio Rodney Adkins (Rod) has been Chairman of Avnet, Inc., one of the world's largest distributors of electronic components and technology solutions, since 2018. He is also the author of Curiosity Redefines the Limits, a leadership book that explores how curiosity can serve as a powerful competitive advantage in driving innovation, leadership effectiveness, and career growth.  In addition, he is a Partner at 3RAM Group LLC, a privately held company specializing in capital investments, business consulting, and property management. Previously, Mr. Adkins was Senior Vice President of IBM, serving in that position from 2007 until 2014. Over his 33-year career with IBM, Mr. Adkins has held several operational and executive management roles spanning strategy, technology, systems, and supply chain. Mr. Adkins' work has spanned the world of technology and computing. He has been a leading innovator in solutions ranging from mobile devices to the world's largest supercomputers. His significant contributions include helping to advance the Personal Computer industry, leading IBM's POWER business to become the market leader in the UNIX market, and pioneering what became IBM's portfolio of Internet of Things (IoT) solutions. Mr. Adkins was inducted into the National Academy of Engineering (NAE) in 2005, one of the highest honors in the engineering profession. His life story is archived in Wikipedia and The History Makers. He was inducted into the Miami Jackson High School Hall of Fame in 2018, the Miami Dade County Public Schools Alumni Hall of Fame in 2022, and the Georgia Tech Engineering Hall of Fame in 2024. The Wall Street Journal named Mr. Adkins among the top 100 most influential and effective corporate directors in 2025. He has been awarded honorary doctoral degrees from Georgia Tech and the University of Maryland Baltimore County (UMBC). Mr. Adkins serves on the board of directors for United Parcel Service (UPS), WW Grainger, and Avnet. He is a member of the Executive Leadership Council (ELC) and a trustee of the Georgia Institute of Technology (Georgia Tech) and Rollins College. Mr. Adkins also serves on the Adrienne Arsht Center Trust Board, the Overtown Youth Center (OYC) Board, and the Community-Police Relations Foundation Board.

In this episode of On Boards, hosts Joe Ayoub and Raza Shaikh speak with Tina Larsson, a former Wall Street analyst, co-founder of The Folsom Group, and author of Living The High Life. Tina works with co-op, condo, and other HOA boards to improve governance to reduce costs, manage major building projects and oversee their shared residence effectively.   Tina shares how she and her husband became involved in board governance after discovering that their New York City co-op board was poorly managed and incurring significant unnecessary expenses. After organizing their co-op neighbors and electing a new board majority, they introduced stronger governance practices to their board and saved their building substantial money in very short order. The conversation explores the governance challenges faced by residential boards, which are usually run by volunteers responsible for complex decisions. Tina shares how boards can improve oversight, manage projects more effectively and shift from reactive decision-making to a more proactive approach to governing their communities. Key takeaways Residential boards face complex governance responsibilities Volunteer board members are responsible for major operational decisions involving buildings, infrastructure, vendors, and regulation Many board members take on these responsibilities without formal training or governance guidance  Financial oversight can reveal significant opportunities for savings Benchmarking operating expenses against comparable buildings can uncover areas of overspending Strategic vendor negotiations and cost reviews can reduce operating expenses by 5–10% in many buildings Effective governance requires proactive decision-making Boards that operate reactively often wait until problems become emergencies before acting Long-term planning helps communities address repairs, projects and maintenance before they become crises Establish clear roles and leveraging community engagement Governance improves when boards focus on oversight and strategy rather than trying to manage every operational detail  Residents who want change must often participate directly by joining the board Building relationships with neighbors and encouraging qualified owners to run for board positions improves decision-making "Living the High Life" Tina's book is a guide and blueprint on how to get involved in the governance of your co-op, and condos or HOA board and how to be an effective board member Quotes " The only way that you can get a say in your community is by running for the board and it talks about skills; good skills, best skills, the elevator skills, and what you are passionate about." "[An HOA, co-op, or condo board] is acting as a miniature government. They are governing the community." "If you are on the board of a residential building… you have to try to manage being on the board and at the same time, you have to handle all shareholders' or owners' concerns." " The only effective way to have a say in your living community is by being on the board." Links The Folson Group Living the High Life: How Smart Co-op and Condo Owners Protect Themselves and Their Investment Guest Bio Tina Larsson and her husband helped her own co-op save substantial money through good governance, after which they formed The Folson Group. They support NYC co-op and condo boards with strategic advice, project management, cost reduction, and help them find a property manager that fits their needs. She is the author of Living the High Life, frequent podcast guest and speaker, and holds a LEED Green Associate designation. Tina is on a mission to educate and support NYC condo and co-op boards to help optimize their living community.

In this episode of On Boards, hosts Joe Ayoub and Raza Shaikh welcome David Karofsky, a principal consultant with The Family Business Consulting Group and co-author of So, you're in the Family Business: A Guide to Sustainability. David brings both professional expertise and personal experience to the discussion, having grown up in a multi-generational family business and later building a family business consulting practice alongside his father. Most recently, his son Adam has also joined David in his consulting practice. He shares how family businesses operate at the unique intersection of family relationships and corporate governance, where emotional dynamics and business strategy often collide. The conversation explores the evolving role of governance in family-owned companies, including how boards can help manage succession, create accountability, and ensure long-term sustainability across generations.  David also discusses why many family businesses resist formal governance structures and how independent board members can help families navigate complex decisions while maintaining healthy relationships. Key Takeaways Family businesses operate at the intersection of family and business Each system has its own dynamics, and when combined they can create strong alignment and/or significant conflict. Successful family businesses learn to balance emotional family relationships with professional business decision-making. Understanding roles is critical to effective communication Family members may simultaneously act as owners, executives or board members. Recognizing which "hat" someone is wearing during a conversation helps keep discussions productive and focused. Governance becomes more important as businesses move across generations As ownership expands from founders to siblings and eventually cousins, decision-making becomes more complex. Formal governance structures help maintain alignment and clarity as the number of stakeholders grows. Independent boards can strengthen family businesses Independent board members can provide strategic, objective perspectives and expertise that may not exist within the family. A strong board supports management while also representing the interests of the family shareholders. Communication is the foundation for long-term success Families must be willing to have open and sometimes uncomfortable conversations about strategy, succession, and expectations. Strong communication allows family businesses to navigate complexity and sustain the business across generations. Quotes "Ownership doesn't constitute a board seat. That goes back to 'what are the needs of the business' and let's make sure we have the right people in the room." Regarding a family member serving on the board of a family-owned business: "You have to be able to be comfortable being uncomfortable." "You've got to really find true independents that aren't going to be yes men or women to the CEO or chairman of the board." Regarding the resistance to a board of directors: "The biggest opposition or fear that I have heard… is the fear of loss of control." Links The Family Business Consulting Group Boards and Family Business: What Could Go Wrong? Family Business Health check Book - So, You're in the Family Business: A Guide to Sustainability Guest bio David Karofsky is a principal consultant with The Family Business Consulting Group, specializing in advising family businesses about the challenges and opportunities inherent to the family business. His client work is focused on building alignment around communication, executing the transition of ownership and leadership, conflict resolution, strategic planning, and forming governance structures for family businesses. His interest in family business consulting began with his course work in family business dynamics at the Cambridge Center for Creative Enterprise. David's work helping corporate executives develop superior listening and communication skills was honed by his professional training in executive team building, strategic decision making, effective communication, managing people, matrix management, and performance enhancement. Prior to working with FBCG, David worked in his own family business consulting practice with his father for eight years. The father-son team are the authors of So You're in the Family Business: A Guide to Sustainability. In addition, David was vice president of marketing for a software start-up where he helped launch the company and raise over $10 million in funding. David also worked at EMC Corporation for eight years holding various corporate roles including managing operations for worldwide marketing. The recipient of multiple achievement awards, David has been a guest speaker internationally and is a mentor to current and former MBA students at Northeastern University's Graduate School of Business and serves on the Marketing Career Track Advisory Board. He is a founding member and former chair of the Boston chapter of the Young Presidents' Organization's Young Adult Forum, member of the Family Firm Institute where he holds certificates in Family Wealth and Advanced Family Business Advising with Fellow status, member of the Board of Directors of the Rogers Foam Corporation and a former member of the Executive Board of Directors for the Men's Associates at Hebrew Senior Life.

In this episode of On Boards, hosts Joe Ayoub and Raza Shaikh speak with Babs Ryan, an innovation executive, board director, and AI strategist with experience spanning global technology, marketing, consumer products, and financial services. Ryan discusses the evolving role of artificial intelligence in governance, the future of AI on boards of directors, and realistic scenarios for AI adoption, in a discussion about the possible ways AI can be integrated into boardrooms. The episode also explores broader governance issues, including board refreshment and oversight responsibilities, and how AI could help surface blind spots in leadership decision-making.   Key takeaways AI as an accelerator Ryan believes that an AI entity on the board could be programmed to make decisions in the best interests of shareholders. AI would be able to look far beyond a typical human board members' scope of knowledge and realm of experience. Organizations should focus on strategic and operational priorities with CEOs applying AI to those priorities, where it would be most effective.   AI is evolving in the boardroom but not enough to take a board seat, at least in the near future  Short term: Boards receive education on how to utilize AI as a tool to prepare for meetings, review minutes and retrieve information.  Mid-term: Focus on strategy and building confidence with AI and use it to challenge assumptions and help identify blind spots and risks. Trust in AI, like trust in new board members, must be earned over time through consistent, reliable contributions. Legal, regulatory, and cultural readiness will ultimately determine how far AI can go, and when, in serving formal governance roles Exposing governance weaknesses Concerns about AI exposing bias or underperformance point to broader challenges around board evaluation and refreshment. AI adoption in the boardroom may accelerate necessary conversations about board member accountability, succession, and governance discipline. Strong boards with high-performing directors are more likely to welcome AI-enabled scrutiny. Quotes " AI is not a strategy and it's not a product. It's an accelerator, something that helps you do something else better, faster, higher quality." "People should stop looking for the 'use case' for AI and focus on their current strategic and operational priorities and then apply AI where it makes sense." "An AI entity on the board… can be programmed to actually give decisions or answers in the best interest of the shareholders, which people don't always do." Links The Board Selection Short List: Will It Be You or AI? Board Search Secrets   Guest Bio Babs Ryan was chief innovation officer of GE Capital's largest division where one of her many patents generated $800M in incremental revenue. A dual US/UK citizen, she has been onsite in 97 countries. She was a director and audit committee member of Workers Federal Credit Union with $2.6B in assets, overseeing M&A negotiations and CEO succession. She is strategic advisor for Kintera AI, offering no code back-office processing/reconciliation and regulatory violation remediation for banks; board director and investment committee member at MarTech Main Street, Inc., a private multigenerational family business; and an advisory board director at Aviva Labs, a global beauty/aesthetics manufacturer and distributor. Babs has also served as CEO of a marketing agency acquired by WPP, SVP of innovation at Capgemini's product design division (AI, digital twins, biosensors, MedTech, robotics), Agile principal at Thoughtworks, and GVP digital transformation at Publicis Sapient.

In this episode of On Boards, hosts Joe Ayoub and Raza Shaikh welcome Gary Evee, cybersecurity leader and founder and CEO of Aprivé. His company is pioneering a concierge approach to cybersecurity protection, providing services that protect high-value individuals and families from the digital threat landscape. Drawing on more than 25 years of experience across IBM, cybersecurity leadership, and board service, Gary explains how breaches increasingly originate through individuals rather than systems.  He highlights how personal devices, home networks, and online data exposure create vulnerabilities for executives and board members, and why cybersecurity must extend beyond the corporate perimeter He currently serves as the board director of Aware Inc. and is a trustee of Dedham Savings Bank. Key takeaways People are the primary cybersecurity risk  Most breaches target individuals and start in simple ways with phishing emails, password reuse, or compromised personal devices.  In cybersecurity, people are the weakest links and organizations often lack in providing continued digital protection for executives once they step outside the company's firewalls Home networks and personal accounts often lack even basic security controls and so cybersecurity is a risk for anyone that works remotely, travels, or brings their work home from the organization. It can even impact your family.  Aprivé: Personal and enterprise-grade cybersecurity The company offers a white-glove services that protect individuals, their home network, devices and digital footprint Aprivé is unlike other cybersecurity companies and proactively helps people get the protection they need in places outside of the enterprise  Aprivé's services cover six pillars Password and credential security Home network hardening Mobile and personal device security Online identity and digital footprint management Financial and account monitoring 24/7 concierge support and incident response Boards and executives are high-value targets with outsized exposure Even the best board portals don't flag when a non-authorized user logs in with stolen credentials taken from a phishing malware or compromised device When an attacker gets access, they can gather information that could lead to reputational damage Aprivé's services ensure everyone within the enterprise is protected, assessing the vulnerability of each individual — especially the C-suite The company also serves high profile and public figures Quotes "People continue to remain the weakest link." " What we found was [people-C-suite leaders and High-value individuals] oftentimes have no one thinking about protecting them once they left the organization." "Even the best board portals assume that the person that's logging on is legitimate." "If I steal your credentials through a phishing malware, a compromised personal device, the system doesn't see me as an attacker, it sees me as a trusted user." Links Aprive  Guest Bio Gary Evee is a visionary entrepreneur, investor, and cybersecurity leader dedicated to redefining how the world's most influential people safeguard their digital lives. As the founder and CEO of Aprivé, he is pioneering the next frontier of personal cybersecurity, Executive & Lifestyle Defense, a model that blends technology, concierge service, and intelligence to protect executives, high-net-worth individuals, and families from the evolving digital threat landscape. With more than 25 years of experience spanning technology, cybersecurity, and business transformation, Gary is known for his rare ability to bridge innovation and trust. Before founding Aprivé, he served as an executive leader in IBM's Cybersecurity Business Unit, helping Fortune 500 CEO's and global enterprises navigate emerging threats while scaling IBM's security portfolio worldwide. In addition to his work with Aprivé, Gary founded Evee Security Consulting Group, advising corporations and public institutions on cyber risk management, identity protection, and incident response. He also founded CyberTrust Massachusetts, a pioneering public-private initiative that develops the next generation of cybersecurity professionals through education, workforce development, and real-work defense programs. Gary erves as a Board Director at Ware Inc. (NASDAW: AWRE), a leading biometrics and identity authentication company, and as a Trustee of Dedham Savings Bank and Charlesbridge Bank. He is also a Visiting Fellow at the National Security Institute at George Mason University, contributing to national discussions on cybersecurity, policy, and technology innovation.  A sought-after speaker and thought leader, Gary regularly shares insights on executive risk, digital identity, and the future of cybersecurity, empowering leaders to safeguard what matters most in an increasingly complex digital world.

In this episode of On Boards, hosts Joe Ayoub and Raza Shaikh welcome Jon Weber, founder of the Jon F. Weber advisory firm and an experienced board leader in operationally intensive, post-restructured companies. Jon has served on over 50 boards.  Drawing on more than 20 years of experience at institutional investors, including Icahn Enterprises, Goldman Sachs, and Elliott Investment Management, Jon shares what distinguishes a board that genuinely drives change. The conversation explores how boards are rebuilt following restructurings, why these roles demand significantly more engagement than traditional boards, and how disciplined board composition, leadership, and governance practices can unlock value.  Jon also discusses lessons learned from distressed situations, the importance of strong board chairs, and why many boards fall short of their potential. Additional Resources For Jon's articles, podcasts, and webinars on governance and  other restructuring-related topics, see https://jonfweber.com/thought-leadership. Key takeaways Early beginnings with operationally intensive investments Throughout his career, Jon had worked for institutional investors who invest in undervalued troubled companies — companies facing challenges relating to talent, strategy, technology, or operational issues. Over the years, Jon has become experienced in overseeing businesses that need very actively engaged boards. Post-restructured boards  When a company is restructured, it has new stakeholders, owners, and boards of directors. These boards must be built from scratch, with clear governance structures, committee charters, onboarding processes, and an expectation of deep engagement. Jon characterizes these boards as at least "50% more difficult" than traditional boards. Members of post-restructured boards must be willing to accept the challenge to be deeply involved and do the work necessary to make an impact. Board composition should start with a scorecard Jon likens effective board building to acting as a "casting director."  To effectively create a post-restructured board, one has to study the business, learn the industry and its history, and have a clear, deep understanding of the company. Before candidate interviews, a scorecard with explicit criteria and consensus on what will lead to a high performing board is created to assure that recruiting priorities are clear. Strong board leadership is necessary The board chair must have board experience and preferably board leadership experience.  The chair must actively manage the board, set expectations for preparation and behavior, facilitate constructive dialogue, and provide regular, direct feedback to the CEO. Without this strong leadership, these boards tend to drift or defer to management. Focus forward, not backward Jon emphasizes that effective boards minimize time spent rehashing historical results and instead prioritize decision-making, problem-solving, and future-oriented discussions.  Preparation before meetings, including sharing questions in advance, enables board time to be used for meaningful conversation rather than passive presentation. Quotes "Because it's a new board, it's not tethered to the legacy of the past." "We're not looking for clones of ourselves or people that bring a mirror image of our own beliefs, but rather constructive disagreement at times around particular knowledge of the business." " Investors are human, too, they have biases…the bias that investors have is they prefer candidates who tend to agree with their investment thesis and who have a frame of reference that is consistent with theirs." "A board that doesn't have a leader ends up being led by management—and that's not good governance." Links www.jonfweber.com Guest Bio Jon leads an advisory firm that serves investors in operationally intensive investments.  Previously, he created and led operating partner groups for over 20 years at institutional investors, including Goldman Sachs, Icahn Enterprises, and Elliott Investment Management.  He has impacted dozens of portfolio companies across a broad range of industries through operational engagement, talent management, and effective oversight, in partnership with management, driving change as a board member, senior executive, and board-level advisor in the Americas and Europe.   His roles have included President of Icahn Enterprises, L.P. (NYSE-IEP), CEO of Philip Services Corporation, WestPoint Home, and Viskase, and board member of Aligned Energy, American Railcar Industries, Crescent Communities, Martinrea Honsel, National Energy Group, PLH Group, Promises Behavioral Health, WIND Hellas, Windstream, Xenith Bankshares, and XO Communications.  Earlier in his career, Mr. Weber was an investment banker at Morgan Stanley and JPMorgan and a corporate lawyer at Weil. He is a Life Member of the Council on Foreign Relations. Jon earned a J.D., cum laude, from Harvard Law School, and B.S. and M.B.A., magna cum laude from Babson College

In this episode, Joe and Raza speak with Firas Raouf, co-founder and general partner at Companyon Ventures, a Boston-based VC firm specializing in early-stage B2B software and AI startups. Firas shares insights from 25 years as a founder, operator, and venture investor—helping companies transition from founder-led sales to scalable, operationally disciplined organizations. The conversation focuses on how early-stage founders should think about creating their first board, the mistakes to avoid, and why great board dynamics depend heavily on execution. Key takeaways Career beginnings 25 years ago, Firas co-founded three startups — two were during the dot-com era and one that became VC-funded, giving him firsthand experience sitting on the receiving end of board advice and investor expectations. Then, Firas was invited to join OpenView while working at Insight Venture Partners and was able to spend 10 years seeing OpenView and its portfolio companies grow. Later he co-founded Companyon Ventures How Companyon Ventures supports the expansion stage investing After early product-market fit, companies hit the "now we need to scale" moment. Companyon Ventures specializes in this transition, helping founders build their first leadership team ,operational discipline, KPIs and dashboards scalable go-to-market engines a plan for capital needs Early-stage boards are about support Firas emphasizes that early boards are not oversight bodies like public-company boards. Their purpose is to surround the founder with people who can help them think strategically, navigate challenges, and build a scalable company. A board can include a seat for common shareholders, lead investors and an independent board member, who is someone with whom the CEO is comfortable. Since lead investors can become a long-term board member, Founders must evaluate who they are letting in, not only the valuation. Once someone is on the board, they're not easy to remove. Boards must evolve as the company evolves As companies grow, the expertise they need changes. Firas suggests cycling out board members after two years. After 18–24 months, it's common for a board member's value to plateau, making board refreshes, new independent directors, or role rotations both healthy and necessary. Quotes "A happy board tends to reflect great execution. An unhappy board tends to reflect poor execution." "I do think that you should keep things fresh, so to speak, and so any board member really that has been there more than two years, it's rare that you haven't picked their brain dry." "It's not just about valuation, it's also about who you're going to let into your company, into your house, because once you let them in, you can't get rid of them." "The board of directors for an early-stage startup is the opportunity to have a number of people around the table that can help you navigate and scale your company."   Links Companyon Ventures- Boardroom Confidential   Guest Bio Firas Raouf is the co-founder and general partner of Companyon Ventures, a Boston-based VC firm that invests in early-stage B2B software and AI startups. Before launching Companyon, Firas was part of the founding team at OpenView Venture Partners, where he helped pioneer the "expansion stage" investment model and partnered with dozens of software founders to scale their go-to-market operations. Today, he focuses on helping founders transition from founder-led sales to scalable growth by building leadership teams, operational discipline, and repeatable GTM engines. Firas is known for his hands-on, operator-turned-investor approach and his passion for guiding first-time founders through the challenges of building high-growth software companies.

In this episode of On Boards, hosts Joe Ayoub and Raza Shaikh speak with Dr. Linda McGoldrick, an international board director, strategy leader, and policy expert in healthcare and life sciences.  With 30 years of global experience across the U.S., U.K., and European boards, Linda shares what defines high-performing boards, the importance of trust and diversity of thought, and how geopolitical and technological shifts are transforming governance today. Key takeaways Traits of high performing boards Regardless of size or geography, effective boards are well-prepared, prioritize meaningful discussion over reporting, and cultivate trust and mutual respect. High performing boards all display strong relationships, open communication, and diversity of thought among board members. Linda added that values, camaraderie and trust are intangible aspects that are important aspects of a successful board. Boards in the U.S. vs the rest of the world Linda observed that even in non-English speaking countries, English serves as the universal language for board communications - a reflection of its role as the global language of business Boards outside the U.S. place greater emphasis on courtesy, respect, and a thoughtful pace of discussion, reflecting multicultural membership and diverse business contexts. Historically, many U.S. boards were more domestically focused, but Linda sees this shifting as companies expand internationally. Directors today are expected to understand global markets, geopolitical dynamics, and comparative business environments. Expansion of risk oversight Today's boards must monitor not only financial and operational risks but also a host of geopolitical, regulatory, and other related challenges. Artificial intelligence impact on boards The use of AI has implications of security, benefits, risk and investment as the technology continues to expand and have impacts on economies and society. Boards have the responsibility to oversee the implications for organizational strategy and risk management. Linda views AI as a valuable efficiency tool, such as bots that summarize materials but stresses that human judgment, discretion, and ethics must remain central to board decision-making. Quotes "I don't want to see myself around the table. I want to see a diversity of experience. We all bring certain talents which feed into the most rigorous and robust discussions around board process." "AI is a global race… I think the human element of discretion and insight is critical to know the line of technical and bot-expertly-fed conversations versus human thoughtful conversations in dialogue. Guest Bio Dr. Linda McGoldrick is an international board director and healthcare and life sciences leader with more than 30 years of global executive and governance experience. She serves on the boards of SmileyLife Holding, Alvotech, where she chairs the Audit Committee, and Compass Pathways, and is the Founder and CEO of Financial Health Associates International. Linda has held senior roles across the U.S. and Europe, including leadership positions at Marsh's Healthcare & Life Sciences practice, Kaiser Permanente's European operations, and Veos plc. She has also served as CEO of the International Diabetes Federation and the Drug Information Association. A dual U.S.–U.K. citizen, Linda brings deep expertise in global strategy, regulatory environments, and board governance across public, private, and nonprofit organizations.

In this episode of On Boards, hosts Joe Ayoub and Raza Shaikh speak with John Rose, an international marketing executive, entrepreneur, and board advisor who has led businesses across the U.S., Europe, Latin America, and the Middle East.  John discusses his global career—from founding the first ad agency in Russia to relocating his company to Dubai and his recent research project, "The Boardroom Blindspot," a global survey exploring why marketing expertise is underrepresented on boards. He also shares insights from his work with the Virtual Advisory Board and Board Brothers, highlighting the impact that advisory boards are having on governance. John has served as a board member and advisor for several companies, including Atypical Digital, WLB, Cow Level and Harvard Alumni Entrepreneurs. Key takeaways 1.A global career defined by reinvention John began his career in Boston media and advertising before co-founding the first Western ad agency in what was at the time the Soviet Union. As global markets shifted, he built a thriving international business across Eastern Europe. When the war broke out with Ukraine, he and his team quickly relocated from Russia to Dubai, rebuilding their agency from the ground up and now represents Dubai's tourism in a number of countries. 2. Dubai's culture of openness and innovation John described Dubai as "the city of the future," efficient, safe, and globally connected, with a government and business culture that actively supports growth. Dubai offered a welcoming and dynamic environment for rebuilding. With 90% or more of residents coming from abroad, the city fosters a strong sense of belonging and entrepreneurial energy. 3. The Boardroom Blind Spot John's research survey, conducted with the Virtual Advisory Board*, revealed that fewer than 14% of boards surveyed include directors with marketing expertise. The survey included 416 board members and executives across 46 countries. Results showed that 60% of respondents believe that marketing perspective would add value, but only 11% have addressed the gap. John asserts that boards are still dominated by finance and legal expertise but largely excludes marketing expertise which brings a customer-centric lens essential for growth, purpose, and communication in a rapidly changing world. 4. Preparing marketers to serve effectively on boards John believes marketing professionals must take some of the responsibility for closing the gap by learning to "speak board"-connecting creative and customer insights to business outcomes, governance, and shareholder value. Strategic marketers, especially CMOs and Chief Growth Officers, can bridge this divide by pursuing board education and gaining experience through nonprofit and/or smaller boards. Quotes "86% of companies don't have any marketing expertise on their boards -      that's pretty significant." "I think we (marketing) are the interpreters. I think we're the people who help cross the gap between what the marketplace wants and desires and what the company can deliver." Links The Boardroom Blindspot Guest Bio John Rose is an accomplished senior executive, entrepreneur, investor, board member, and creative director with over 30 years of experience leading marketing and media businesses across the U.S., Europe, Latin America, and the Middle East. He is a founding member of the Virtual Advisory Board, co-founder of Board Brothers, and a frequent speaker on global governance and marketing leadership. John's expertise spans brand strategy, international expansion, and board governance, with a special focus on helping companies bridge marketing insight with corporate purpose and growth. He currently resides in Dubai, where he continues to advise boards and global organizations on marketing strategy and board composition. * The Virtual Advisory Board (VAB) is a virtual and global platform which connects its members and helps them navigate the global board of directors and advisory board ecosystems.

In this episode of On Boards, hosts Joe Ayoub and Raza Shaikh welcome Jim Brown, co-founder of OrgHealth and author of the global bestseller "The Imperfect Board Member."   With 30 years of experience advising boards and CEOs, Jim shares how embracing imperfection leads to stronger leadership, healthier organizations, and better board performance. He dives into the evolution of governance over the last two decades and the cultural challenges boards face today.  Jim also previews his forthcoming book arriving in 2026, "The Imperfect CEO," set 20 years after his first book. The sequel explores the current reality that company leaders face through changes in leadership expectations and workplace culture.    Key takeaways 1.OrgHealth's mission Jim explains that organization health is a focus on culture, the relationship between board members, how they communicate with each other and how they talk about their CEO and management team Companies that seek OrgHealth's consultations need to have a leader who recognizes that they will be making most of the changes and acknowledges that improvements need to be made.    2. "The Imperfect Board Member" philosophy The book tells a fictional story of a frustrated CEO who discovers that in order to make effective change on his board, it begins with self-awareness. Along his journey he discovers  "The Seven Disciplines of Governance Excellence: direct, protect, connect, expect, respect, reflect, and select.  The key insight from the story is that lasting board transformation requires both individual and collective growth. 3. Challenges adjusting to changes in culture Jim's upcoming book, "The Imperfect CEO," revisits the same protagonist 20 years later as he confronts a new reality of generational and cultural shifts within companies. The issue that company leaders face is being stuck in the mindset that because something worked before, it should still work. But with younger generations entering the company, outdated expectations receive pushback.  4. The ideal board chair A great board chair leads with an attitude toward service, not authority. Their role is to draw out the best from every member, ensure effective discussion, and maintain focus without dominating the conversation. 5. Term limits, a solution to offboarding challenges Jim suggests that rather than making offboarding personal through performance feedback, make it a mechanical process. Term limits also encourage boards to develop the skill and culture to bring in new members and help them learn about the company.  Quotes " Culture has become the undercurrent of every organization's reality. And if you don't recognize it, you're going to be blindsided by it." " My observation and my personal experience that the way we led as leaders 20 years ago that worked for us, doesn't work today." " I think it would just be much more healthy if we let boards be boards of directors where more of their energy is on the direction piece rather than the protection piece." " Have enough time for people to learn the job, the organization, and really add value, but not so much time that they become stale."   Links OrgHealth The Imperfect Board Member Guest Bio Jim Brown is an author, speaker, and board governance advisor with over 30 years of experience helping boards and CEOs build healthier organizations. He co-founded OrgHealth in 1995, a consulting firm dedicated to improving board and leadership performance through culture, clarity, and accountability. His book, "The Imperfect Board Member" (2006), became an international bestseller. He currently serves on several boards, including Vanquish Hockey, Amgine Technologies, and previously served on boards for The Global Leadership Network and SigmaDek. His upcoming book, "The Imperfect CEO" (2026), explores how leadership and workplace culture continue to evolve in today's rapidly changing environment.