An executive committee is comprised of board members with close leadership connections who meet regularly to discuss pressing issues that affect the company. They make decisions on behalf of the whole board and establish the strategic direction. They also serve as an intermediary between the CEO and the board. An boardroomsupply.com executive committee can be an effective solution for businesses which have many frequent issues, require urgent decision-making on crucial issues or don’t want to wait until the entire board is seated.
A successful executive committee will comprise high-level executives as well as leaders of other committees. Typically the chairperson of the board will serve on the executive committee as well. They should take the lead on the agenda of the committee and ensure that all board and committee activities align with company goals. This person will also be the spokesperson for the board and appoint chairpersons of the committee. The number of members on the executive committee may differ from one company to another. However, the board’s bylaws must clearly define who will be part of this committee. Research shows that a seven-member committee is the most effective size for optimal decision-making.
The executive committee is accountable for establishing governance policies as well as making strategic decisions at the highest level and giving supervision to management. They are also responsible for the development and training of board members. Based on the size of the group the committee can meet monthly, quarterly, or as required.
While an executive committee may be a valuable tool for many non-profits and organizations, it is not the best solution for all. If your board isn’t large or you have a thriving board of directors that operates efficiently without an executive committee, then you might find that this type of structure isn’t necessary for your particular organization.