Executive directors and a non-executive director are required to conduct the board meeting. The former is the one who leads the company’s top management and oversees day-to-day operations and the latter brings diverse experience to the table. During meetings they review reports and documents, offer insights into management issues as well as strategic initiatives, and take decisions that affect the organization’s long term success.
It is essential to confirm prior to the meeting that all materials are provided and that all logistics are in place. It’s also an excellent idea to reread and make any final edits on the agenda to ensure that everything is addressed in a concise and well-organized way.
The meeting begins with an opening statement by the chairperson or presiding officer. The treasurer is then able to provide the full report of the financial issues of the moment. The treasurer should have given the report prior to giving board members an opportunity to review it and prepare questions.
After the treasurer has completed his report, any member can suggest to discuss business that is new. If they’re seconded, a vote is held and those in favour say ‘yes’ while those against say ‘no’.
This is the time to tackle any pending or unfinished issues from previous board meetings. Depending on the nature of the issue, it can https://www.myboardroom.info/conducting-a-board-of-directors-meeting-dont-do-these-mistakes be decided by voice vote or a show of hands. Finally, the board chair or the presiding officer ends the meeting by highlighting the key actions and decisions agreed on, making sure that all participants are clear on their roles moving forward.