Two independent directors (IDs) are seated next to each other on a flight and compare notes. One serves on the board of a family-controlled company, the other on the Indian subsidiary of an MNC. The law defines their duties identically. But how they perform their roles, their board views them, and they create value are very different. They should start by asking themselves: what board am I on?
Excluding PSUs and banks, because sector-specific regulation makes them distinct, here are 4 archetypal boards:
