I wanted to thank you for sharing. I think it can be hard or scary to raise concerns or feedback to a board like this, and I appreciate it.
(I can only speak for EVF US:)
Since the beginning of all this, we’ve been thinking through board composition questions. In particular, we’ve been discussing what’s needed on the US board and what changes should be made. We’ve also explicitly discussed conflicts of interest and how we should think about that for board composition.
There are a variety of different issues raised in the post and comments, but I want to say something specifically about FTX-related conflicts. In the aftermath of the FTX collapse, EVF UK and EVF US commissioned an outside independent investigation by the law firm Mintz to examine the organizations’ relationship to FTX, Alameda Research, Sam Bankman-Fried, and related individuals. We’re waiting for the results of the investigation to make a determination about whether any board members should be removed for FTX-related reasons. We’re doing this to avoid making rushed decisions with incomplete information. Nick has been recused from all FTX-related decision-making at EVF US. (Nick and Will have also been recused from FTX-related decision-making at EVF UK side, though that’s an independent process that I’ll let an EVF UK board member comment on.)
We’re also actively working on getting new board members. We hope to be able to share new board members soon (though these things take time). We understand the community wants updates, and we’ll do our best to answer questions and provide further news as we can (though it may be slow and limited).
Thanks to the boards for thinking through this and thinking about how Community Health can do better in the future.
I’m sorry for my mistakes here and the harms my mistakes have caused. In particular, I should have given more support to Julia’s decision-making by getting more details about the case, forming my own inside view and double-checking the actions taken in this case. I think that would likely have caused us to take different actions here and prevented some harms. Our changes, listed in more detail in Chana and Julia’s comments, make a mistake like this much less likely in the future.
I also wish I had ensured I had a clearer set of principles and policies for when, either as a board member or the manager of the Community Health team, an issue needed escalation to the whole board. We’re working on a team-wide policy to this effect.
In general, I’ve also made a lot of personal updates in line with the mistakes listed above (e.g., I put higher weight on the value of pre-agreed-upon policies relative to case-by-case decision-making than I used to). I'm grateful for everyone's work and support on the changes our team is making; I think it’s making us better and more robust.