Ariel White-Tsimikalis, Technology and Life Sciences partner, mentions to Sifted that while there is no “one-size fits all” model for a board, the appropriate size and structure can vary depending on the business needs. Board composition is indeed “a key aspect of a company’s IPO readiness preparation." She says that companies should aim for a balanced board of executive and “independent” NEDs and seek out directors with experience in the transition from the private to the public markets. She says that directors “well-versed in the public company financial and non-financial reporting regime where a particular company will list” are particularly valuable. Another thing that should be taken into account is diversity in both skills and background, says White-Tsimikalis. Both regulators and investors are now advocating for public company experience across a spread of industries and for diversity in both gender and ethnicity.