Think & Grow Launches Landmark U.S. Board Report: Inside the Break and Remake of Modern Governance

NEW YORK, Nov. 5, 2025 /PRNewswire/ -- Global growth advisory Think & Grow unveiled the most comprehensive study on the future of board governance in the United States, revealing that outdated board structures are contributing to record startup failures—and that a new model of high-impact boards is taking shape.

Redefining Governance in the Polycrisis Era  draws on research from over 750 founders, directors, investors, and C-suite leaders. It finds that boards are moving away from static oversight toward operationally engaged teams built for today's speed and complexity.

"Startups aren't failing for lack of innovation—they're failing because their boards haven't evolved," said Jonathan Jeffries, co-founder of Think & Grow. "The next generation of boards will be more agile, diverse, and involved—the boardroom is being rebuilt for the speed of modern growth."

U.S. startup shutdowns rose 25 percent in 2024, and failures between Series A and B surged 133 percent—a mid-stage governance crisis. Diversity was a key differentiator: only 10 percent of directors come from underrepresented backgrounds, and one-fifth of the most heavily funded private companies have no independent directors. When women occupy independent seats, those companies raise 16 percent more capital on average.

"Independent voices are force multipliers," said Taryn Williams, Partner, AI Practice, Think & Grow. "Diversity changes the way strategy gets made."

Directors said chemistry—not credentials—made successful boards, with 90 percent agreeing that members should contribute beyond narrow expertise. "Effective boards operate more like high-performing teams than committees," added Anneliese Urquhart, AI Practice Lead, Think & Grow.

The report finds boards are becoming more operationally involved, particularly around AI, cybersecurity, and sustainability. Half of boards have recruited AI specialists, though more than 80 percent of companies report the technology hasn't yet driven earnings—exposing a readiness gap. "Boards don't need AI evangelists," said Williams. "They need AI realists—people who connect technology to governance and performance."

Resilience now depends on adaptability. Long-term strategies are giving way to shorter, flexible "micro-strategies," with one-third of boards meeting monthly. "The board built on autopilot will not survive," said Jeffries. "The board engineered for agility will."

About Think & Grow

Think & Grow is a people-led global growth advisory helping technology companies scale through smarter leadership, strategy, and governance. The firm has supported over 2,000 companies across 22 countries, conducted over 1,000 workshops, and placed 1,000 executives.

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SOURCE Think & Grow