'Ultimately, Elizabeth made the decisions': A look inside Theranos' ineffective board

The bevy of luminaries on Theranos Inc.'s board were advisers, rather than traditional directors with fiduciary and oversight responsibilities, according to testimony by Wells Fargo& Co.'s former CEO and chairman in an investor lawsuit centered on the defrocked blood-testing company. The deposition of Dick Kovacevich gives insights into how Theranos founder and former CEO Elizabeth Holmes and former President Ramesh "Sunny" Balwani ruled over a group of political, military and, to a lesser extent,…
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