“Boring as rat sh*t”. That’s how one CEO explained Board meetings to me, some years ago. Charming. But board meetings shouldn’t be perceived as a negative part of running your businesses. As a corporate governance requirement, here are a few ways you can get the maximum from your Board meetings for you and your fellow directors.
(Ian Wright, CEO & Founder)
Think about a short phone call to each board member a week or so before each meeting as this allows you to build a rapport and also allows a 1-2-1 dialogue. Calls should be no more than 5-10 minutes and are used to get a grasp of which topics/issues are on the minds of members. By using the pre-board meeting call, you are able to diffuse issues that could be used to ambush you at the formal meeting; by allowing your board members to have an input in to what appears on the Board agenda, you are allowing them to feel more part of the proceedings.
Each meeting should open with a short speech by the CEO or Chairman to set the agenda and overview. The speech should be no more than 5 minutes.
A key component of board meetings should be the inclusion of an admin/PA to take notes with actions and follow ups. If there is no PA available, the corporate secretary or other designated note taker should be given this specific task.
This checklist, compiled by Deloitte, sets out the corporate governance disclosure requirements of the UK Corporate Governance Code and the Irish Corporate Governance Annex (“ISE Annex”) for reporting periods commencing on or after 1 October 2014.DOWNLOAD