An executive committee is comprised of board members with close https://boardroomsupply.com/ leadership connections who meet to discuss urgent concerns that affect the company. They make decisions for the entire board and set strategic direction. They also serve as an intermediary between the CEO and the board. An executive committee is the ideal solution for businesses 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.
A great executive committee will include senior executives and other leaders from other committees. Typically the chairperson of the board is on the executive committee too. They are the ones in charge of setting the agenda for the committee and ensure that all committee and board actions are in line with goals of the company. The person who is appointed will also select committee chairs and serve as the board spokesperson. The number of members of the executive committee will vary from one organization to another organization. However, the board’s bylaws should clearly spell out who is part of the committee. Research suggests that a seven member committee is the ideal size for optimal decision making.
The executive committee is accountable for establishing governance standards and taking strategic high-level decisions and giving oversight to management. They also lead on board member training and development. Based on the size of the group the committee, it may meet on a monthly or quarterly basis, or on an as required.
Although an executive committee can be an effective tool for a variety of nonprofits and organizations but it’s not a solution that fits all. If your board isn’t large or you have a robust board of directors that works effectively without an executive committee, you may realize that this kind of structure isn’t the best fit for your business.