Board meetings are an essential part of a company’s governance process, as it ensures that everyone is aware of their responsibilities and roles. When the first board meeting is held the roles and responsibilities are officially established, including naming the chair and other officers such as CEO, CFO and Secretary, and setting up a regular schedule of board meetings and a process for decision-making.
When the board meets it must be certain that everyone is on the exact same page regarding the purpose of the meeting and that discussion is focused on the agenda items. If possible try to mix discussions with fun or lighthearted topics to avoid boredom and encourage participation.
The meeting is officially called to order by the presidency officer. The attendance is verified and any changes made to the quorum is confirmed. The presiding officer goes over the agenda at a high-level and the board members discuss and approve minutes from previous meetings.
As the meeting progresses, committee members and other board members present their performance. This may include financial reports, status updates and any other relevant information. It is vital that the board members take time to listen to these reports and ask questions.
The board is also able to discuss any other issues that may impact the company. This could include issues such as how to allocate budgets or whether to expand to the new country, as well as administrative issues like the company’s policies and procedures. When the discussion is over and any action items have been assigned the chairman moves to call the meeting off.
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