An executive committee is composed of board members with close leadership ties who meet to discuss urgent issues that affect the organization. They make decisions for the full board and determine the strategic direction. They also serve www.boardroomsupply.com/tips-to-organize-an-efficient-online-board-meeting/ as a bridge between the board of directors and the CEO. Executive committees are an ideal solution for companies that have a number of repetitive issues that require immediate action on important issues, or don’t want to wait until the entire board can meet.
An effective executive committee will comprise top executives and the heads of other committees. Typically, the chairperson of the board is on the executive committee as well. They should be in charge of setting the agenda of the committee and ensure that all committee and board activities are in line with the company’s goals. The person appointed by the committee will also be the committee chairs and act as the board’s spokesperson. The number of executive committee members will differ from one organization to the next organization. The bylaws of the board must clearly define who will be members of this committee. According to research, a committee with seven members is the optimal size for optimal decision-making.
The executive committee is responsible of establishing governance procedures, taking high-level strategic decision and providing oversight to management. They also take the lead on board member training and development. Depending on the size of the committee, they could meet quarterly, monthly or on an as-needed basis.
While an executive committee may be a useful tool for many organizations and nonprofits, it is not a solution that works for all. It’s possible that you don’t need an executive committee when your board isn’t large or you have an executive committee that can operate without one.