Board Meeting Facts

Board Meetings are crucial to the company’s future. However, a board that merely endorses whatever management decides to put on the agenda isn’t doing its work and could put the company meaning of nominee director at risk.

Board meetings can be lengthy and boring. It’s easy to lose track of the amount of time spent listening or discussing irrelevant issues. The effectiveness of a meeting is determined by a variety of factors, including the way the agenda is arranged and the amount of time devoted to substantive issues and topics, as well as the rules of conduct for the meeting.

Meeting rules may vary from board to board but they should be clearly and consistently stated to ensure consistency and transparency. Some of these rules are imposed by law (e.g. requirements for quorum) and others can be determined either by the board’s bylaws or by common law.

Attendance records should be clearly documented in the minutes of meetings, with the percentage of attendees who constitute the quorum being noted. It is also important to record the attendees, including when there were any board members absent, or the presence of anyone who was remotely. (See our article on Board member Attendance). A brief description of every discussion should be recorded as should the amount of time spent on each topic. This will allow you to manage time and avoid repetition of information in future meetings.