Company boards are getting younger, but balancing vitality with expertise is key to success

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The board of directors plays a major role in setting a direction for organisational leadership. This makes it important for boards to have people with significant corporate and domain expertise. Experts say board compositions are undergoing a change.

Startups already have a younger board as compared with traditional companies. This is primarily because the founders are mostly young and have a seat on the board, says Madhur Nevatia, Partner, Longhouse Consulting.

In more developed markets like the US and the UK, startup founders are between 45 and 47 years old. This trend of more experienced professionals starting up is catching up in India as well.

Some startups have a higher inherent need to have younger board members. This is especially true in startups catering to younger target audiences. Industries such as health tech, fintech and consumer tech fall in this grouping.

Nevatia says young leaders must possess crucial skills to thrive in today’s evolving landscape. Key among these skills is a deep understanding of new technologies such as artificial intelligence (AI), cybersecurity, sustainability, and environmental, social and governance practices.

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