New Delhi, April 17 -- Board appointments have long been dictated by promoters and top executives, with allies handpicked who echo rather than challenge them. This is apparent in India's public sector companies. Family-run businesses have also been known for it. At startups, boards are typically composed of a small group of founders and funders. This structure, while not without its challenges, is understandable.

cap corporations receive much more attention for the composition of their boards. Traditionally, these included bankers, company promoters, top officers, retired bureaucrats and high-profile figures. Many are chosen more for their connections in high places than their strategic skills.

However, governance failures, tighter conf...