The conduct of a board of directors meeting requires the leadership skills of executive directors and non-executive directors. The executive director leads the management of the company and supervises the day-to-day operation, while non-executive directors bring vast amount of knowledge to the table. During meetings, they examine documents and report, providing insights into management issues and strategic initiatives, as well as make decisions that affect the success of the company over the long haul.
It is important to confirm before the meeting that all materials have been provided and that all logistics are in place. Additionally it’s a good idea to go through the agenda again and make any final edits to ensure that all topics are addressed in a systematic and concise manner.
The meeting begins with an opening address from the chairman or presiding officer. The treasurer will then present a report on all financial issues at hand. The treasurer should have provided this report in advance, giving board members a chance to look over it and think of questions.
After the treasurer has completed his report, any member is able to decide to discuss new business. If they are seconded, it will be a vote. The majority of those who support conducting a board of directors meeting the motion will say ‘aye, and those opposed will vote ‘no.’
Any pending or unfinished matters from previous board meetings are dealt with during this phase of the meeting. Depending on the matter, a voice vote or show of hands may be used to decide the issue. The chairman or presiding officer concludes the meeting by highlighting the most important decisions and actions that were agreed upon, ensuring that everyone is aware of their roles moving forward.