The Difficult Dance
Thoughts on building effective high-growth boards
By Rob Wirszycz
October 2025
Few endeavours are as exhilarating—and fraught with complexity—as the stewardship of a high-growth tech business. As someone who has chaired several start-up and scale-up boards, I have witnessed first-hand the delicate dance between governance and ambition, control and creativity, prudence and daring.
Nowhere is this dance more pronounced than in the creation and management of a board that brings together investors, independent directors, and an ambitious executive team, each with their own perspectives, motivations, and expectations, all needing to work together towards a, hopefully shared, goal. Investors, typically representing venture capital or private equity, are often focused on value creation, risk mitigation, and exit horizons. Independent directors (either on the main board or in an advisory capacity), ideally drawn from diverse backgrounds, can provide impartial judgement, industry expertise, and a steadying influence. The executive team, led by the CEO, brings the operational drive and vision.
Balancing these groups is an art. Too many investor representatives, and the board risks becoming a proxy for shareholder interests alone, potentially stifling innovation or long-term thinking. Too few, and capital providers may feel exposed or disconnected. Overweighting with advisors can dilute accountability, while an overbearing executive presence risks undermining governance.
As chair, I aim for clarity with each member needing to demonstrate they understand their fiduciary duties, their remit, and the unifying mission of the company. This lesson was hard-earned having seen on more than one occasion, misalignment between investors and executives leading to months of stalemate and in one case, a catastrophic split.
This alignment is an ongoing process. I find regular, at least twice a year, off-site sessions invaluable, not only for strategic deep-dives but for fostering trust and candour among directors and executives. A well-facilitated retreat can sometimes achieve in two days what a year of regular more formal meetings cannot.
The tension between governance and ambition is not a flaw; it is a feature.
Key for me is to ensure the board has sufficient diversity of thought and experience – a test on this is to look around the room and if they all look and sound similar, you don’t have it. It is also essential to set expectations regarding time commitment, engagement, and the rules around member’s ability and willingness to challenge assumptions.
There will always be an inherent tension between the board’s duty to govern (encompassing risk management, compliance, and oversight) and the executive team’s drive to grow—often at a breakneck pace. This tension is not a flaw; it is a feature. The risk appetite of a tech startup should be naturally higher than that of a mature business, but if unchecked this can threaten the enterprise just as surely as excessive caution.
A board meeting should never be a rubber stamp. Nor should it devolve into micro-management. The chair’s role is to facilitate constructive challenge, ensure robust debate, and channel the board’s collective wisdom without encroaching on the executive’s task of leading the business day-to-day. Clear agenda-setting, concise and honest reporting, and the willingness to raise uncomfortable questions are all vital. An example of this happened recently when a frank discussion about burn rate—initiated by an independent director—prompted a change in the go-to-market strategy, ultimately preserving both runway and morale.
A well-constructed board is not an impediment to growth; it is the platform from which sustainable, scalable innovation can be launched.
Early-stage boards are often hands-on, with directors deeply involved in operational matters. As growth accelerates, the board must evolve towards a more strategic and supervisory function, empowering the executive team and focusing on long-term value creation. This means that transitions—whether of directors or executives—are inevitable. Succession planning, appropriate evaluation, and open communication are key to maintaining momentum and adaptability.
My take is that a well-constructed, well-managed board is not an impediment to growth; rather, it is the platform from which sustainable, scalable innovation can be launched. The tension between governance and ambition, when properly harnessed, produces the kind of creative friction that propels a business forward—safely, but not timidly. Ultimately, the goal is not to suppress entrepreneurial energy, but to channel it—to ensure that the company not only grows fast, but grows well.