The ‘double-edged sword’ of a high-profile board member
Mark Nadler, principal and co-founder of Nadler Advisory Services, consults to executive teams and boards of directors. He said directors should elect other members based on company needs regardless of their name or reputation, much like Cox’s strategy.
In the past, Nadler said boards would seek out high-profile members for the sake of publicity. Now, companies seem more likely to appoint those best suited for the position.
“Everybody has to bring something to the table or else they’re taking up space,” he said.
Just as executives shouldn’t appoint members based on reputation, Nadler said they also shouldn’t turn someone away for the same reason.
However, because of Sebelius’ political background, Nadler said potential Humacyte investors are likely waiting to see how the election season unfolds before making a move. Sebelius could lose her federal government connections depending on the outcome of the presidential election, which could deter or encourage investors.
“It’s really a double-edged sword,” Nadler said.
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