Uber-sized companies & the board's role.

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The Uber drama includes several main characters.

The now ousted CEO, Travis Kalanick, and the powerful investors who pressured him to leave. But also playing a key role is the board of directors, even though Uber's a private company with far fewer legal restrictions when it comes to the boardroom.

Given that Uber now has 12,000 employees and is valued at nearly $70 billion, its far-reaching influence throughout the global economy requires strong governance, says Michael Useem, a professor of management and director of Wharton's Center for Leadership and Change Management. "Uber is a big company, and even though it's private," he adds, it poses great "risks for...