Board Meetings are an essential aspect of a sound corporate governance process and could be vital for a company’s future. However, a board that just abides by whatever management has put on the agenda isn’t executing its role and may be putting the business at risk.
Board meetings can be long and boring. It’s easy to lose count of the time spent listening to or discussing irrelevant subjects. The effectiveness of a meeting is determined by many factors, such as the manner in which the agenda is structured, the amount of time devoted to substantive subjects and issues, and the rules for conducting the meeting.
The rules for meetings can differ from one board to the next, but they must be laid out in a clear and consistent way that ensures consistency and transparency. Certain rules could be mandated by law (e.g. or quorum requirements) and others could be governed by the bylaws of the board or common law.
Minutes of meetings should clearly record attendance records, including the number of attendees who constitute the Quorum. It’s also important to document who was present, for example, if board members were absent or in the event that they were present remotely (see our article on Board Participation of Members). A brief description of each discussion should be recorded as should the amount of time spent on each subject. This will help you manage time and prevent repetition of information in future meetings.