Board governance is about far more than quarterly meetings and financial oversight. For privately held companies, strong boards act as catalysts for growth and innovation. They challenge leadership to anticipate market shifts, invest wisely, and seize new opportunities. Effective boards bring perspective on scaling operations, entering new markets, and adopting technologies that can transform competitive positioning. They also influence organizational culture and ensure leadership teams have the skills needed for the future. In family-owned businesses, this responsibility often intersects with generational transitions, adding another layer of complexity to board deliberations.
Cristina Silingardi, an experienced board member with deep expertise in succession planning, helps companies navigate this process with clarity and balance. Her approach emphasizes intentional leadership that aligns shareholder interests with business needs, ensuring boards act as engaged advisors rather than passive observers.
Defining What Boards Should Address
Boards do not all operate at the same level of effectiveness. Their role often shifts depending on the company’s stage of growth, whether it is a startup, a mature business, or one in hyper-growth, as well as the dynamics of the industry. Silingardi has seen this variability firsthand. “The board needs to develop a clear understanding of the shareholders’ goals, as well as the company’s impact on customers and the broader community,” she explains.
Strong boards help leadership stay focused on long-term priorities even when daily operations demand attention. They act as a compass, ensuring strategy, culture, and governance remain aligned with vision and goals. Silingardi points to a guiding principle she often heard in Board Readiness Programs: “noses in but fingers out.” Boards should stay close enough to understand the business while disciplined enough not to cross into management’s role. As she notes, “The moment boards cross that line, they risk undermining leadership instead of strengthening it.”
Measuring Whether Boards Are Effective
What makes a board effective is rarely static. The expectations of a startup experiencing rapid growth differ greatly from those of a mature company navigating succession, regulatory pressure, or shifting markets. For Silingardi, effectiveness comes down to how well a board adapts to support management through the company’s most pressing challenges. Effective boards are active resources. They offer perspective, industry insights, and valuable connections. In some cases, they play a decisive role in merger and acquisition activity by testing assumptions and weighing the long-term strategic fit of a deal. They provide balance during investor scrutiny, helping leadership manage short-term expectations while maintaining long-term focus. They guide succession planning by identifying future leaders and ensuring the culture, systems, and strategy are in place for a smooth transition. In times of disruption, whether driven by regulatory change, market volatility, or reputational crisis, strong boards bring clarity and stability while allowing management to lead day to day.
“Quarterly meetings and lengthy reports represent only a small part of the role,” Silingardi explains. “Board members are trusted advisors to the leadership team and they advocate for the shareholders. They add the most value when executives turn to them for perspective on critical decisions, whether exploring new opportunities or addressing complex challenges. This role often extends beyond strategy, with board members serving as mentors to individual members of the executive team.”
Self-assessment is equally important. Boards should conduct annual performance reviews and, at times, engage external facilitators for an objective perspective. Each member should reflect on whether they are the right fit for the organization’s evolving needs and how they can contribute additional value. Protecting independence, managing conflicts, and assessing risks that extend beyond the immediate horizon all help ensure long-term resilience and alignment.
Connect with Cristina Silingardi on LinkedIn to learn more about her board governance expertise.
