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Board 3.0 : Bringing the Private Equity Model to Public Companies


Friday, May 21, 2021

09:15 – 12:30 EDT (15:15 – 18:30 CEST)

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About this event

A virtual conference exploring a new model for public company boards (“Board 3.0”) that featured the private equity portfolio company governance model, proposed by Professors Ronald Gilson and Jeffrey Gordon.

Gilson and Gordon presented an alternative, optional board model for the public company: “Board 3.0.” Boards need to evolve to deal with increased complexity, the reconcentration of share ownership, and the tensions between market myopia and management hyperopia, among other challenges. One promising route is to port over elements of the private equity portfolio company governance model to public corporations by adding some “empowered directors” who are “thickly informed, well-resourced, and highly motivated.” Apart from Gilson and Gordon’s specific proposal, the message is that the current board model is not fixed in stone. The world of private markets, venture capital, and private equity—all developments of the 1970s or later—has made effective use of alternative board models. The goal of this conference was to bring some of this governance experimentalism to public companies.

Reading Material:

Gilson, Ronald J. and Gordon, Jeffrey N., Board 3.0: What the Private‐Equity Governance Model Can Offer Public Companies (Summer 2020). 


Ira M. Millstein Center for Global Markets and Corporate Ownership, Columbia Law School

European Corporate Governance Institute (ECGI)


With special thanks to Millstein Center sponsor



Programme queries should be directed to Jeff Gordon (



Friday, May 21, 2021 09:15 ET (15:15 CEST)

Welcome and introduction


Concluding Remarks


Ronald Gilson

Charles J. Meyers Professor of Law and Business
Columbia Law School & Stanford Law School
Fellow, Research Member

Jeffrey Gordon

Richard Paul Richman Professor of Law and Co-Director, Millstein Center for Global Markets and Corporate Ownership
Columbia Law School
Fellow, Research Member

Wei Jiang

Asa Griggs Candler Professor of Finance
Emory University Goizueta Business School
Research Member

Kathryn Judge

Harvey J. Goldschmid Professor of Law
Columbia Law School
Research Member

Edward Rock

Martin Lipton Professor of Law
Fellow, Research Member


Elaine McPartlan
European Corporate Governance Institute (ECGI)
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