Boards have seen an array of changes over the past few years as they adapt to the changing environment. Board directors are figuring out ways to communicate and perform their oversight responsibilities despite rapid pace of regulatory change as well as the COVID-19 epidemic and the political turmoil in the world.
A well-organized agenda is crucial to ensure that board meetings are productive and efficient. The right mix of managerial and strategic topics will assist your board in achieving its objectives while avoiding unnecessary distractions.
A lively agenda for your board begins with the most important items, enabling your team members to get to work quickly and stay on track. It also includes a parking item to push off-topic discussion topics that can wait until the next meeting.
Make sure you are prepared for board meeting click to read by providing short executive summary and board papers instead of lengthy explanations. Directors will be able to focus on the most important questions to have a thorough discussion. You may also want to consider adding additional information and background to aid your board members to know the issues that are on the table. This could include market data (such as retention rates for customers and acquisition rates) or financial statements of the company Key performance indicators or milestones in the development of products.
Avoid discussing sensitive legal issues in board meetings when the general counsel is not present. Be aware of preserving attorney-client privilege which shields your company from being discovered in the event of an action against a member of the board.