Shareholder value: Create, sustain, and enhance shareholder value.

CEO selection and assessment: Evaluate CEO performance, transition, assist in recruitment, succession planning.

Governance: Manage risk via business strategy, finance, management, market insights, and legal compliance.  

Vote on key decisions such as:

Financing: approving terms of external term sheet.

Hiring/firing key managers.

Expenditures over certain amounts, often $250K or greater.

Involved in Compensation Committee.

Licensing IP.

Evaluating acquisition offers.