An executive committee is made up of board members with close leadership ties who meet regularly to discuss pressing issues that impact the organization. They make decisions on behalf of the entire board and set the direction for strategic planning. They that site about The best virtual data room also serve as a bridge between the board of directors and the CEO. An executive committee is an excellent solution for companies that have many repetitive matters, require immediate action on critical issues, or don’t want to wait until the entire board can convene.
A great executive committee will include senior executives and leaders from other committees. Typically, the chairperson of the board will serve on the executive committee, too. They are in charge of setting the agenda of the committee and ensure that all committee and board activities are in line with the goals of the company. The person who is appointed will also select committee chairs and act as the board spokesperson. The number of executive committee members will differ from organization to organization. However, the bylaws of the board must clearly define who is part of the committee. According to research, a committee comprising seven members is the ideal size for optimal decision-making.
The executive committee is in charge of establishing governance practices and taking strategic decisions at a high level and providing oversight to management. They also take the role of directing board member training and development. Depending on the size of the committee, they may meet quarterly, monthly or on an as-needed basis.
Although an executive committee could be an effective tool for many nonprofits and organizations, it is not a solution that works for all. If your board isn’t large or you have a solid board of directors that works effectively without an executive committee, you could realize that this kind of structure isn’t needed for your organization.