The best board members are chosen because they bring experience, independent thinking, wisdom and access to external networks. However, board members are not in a disinterested position relative to management. Hiring and firing the CEO is specifically the board’s responsibility. The board’s first and foremost priority is to the shareholders, not the management team. As a result, the kind of conversations that the CEO can have with the board is inherently limited and can carry high risk. However, these conversations still need to take place:

“Now that I have gotten here, am I honest enough to be able to explore uncomfortable truths?”

“Do I have the right people on my team? What do I have to do to get top people to work with me?”

“Am I pushing inquiry to the limits regularly? Does the published agenda cover the full picture?”

“How do I focus on the long-term, non-urgent – yet important – issues when I am under pressure this quarter?”

“Am I leaving the right legacy?”