Board Meeting Facts

Board Meetings are an essential aspect of a good corporate governance system and can be crucial for a company’s future. A board that is smug and only slaps its stamp on what management proposes on the agenda might not be doing its job and could put the company at risk.

Board meetings can be lengthy and boring. It’s easy to forget the time spent listening or discussing irrelevant subjects. The effectiveness of a meeting is determined by a variety of factors, which include how the agenda is structured and the amount of time devoted to substantive subjects and issues, and the rules of conduct for the meeting.

Meeting rules can vary from one board to the one following, but they should be laid out in a clear and consistent manner that ensures consistency and transparency. Certain of these rules could be dictated by laws (e.g. the quorum requirements) or be governed by the bylaws of the board or common law.

Meeting minutes should be clearly documented with attendance records and the number of attendees who constitute the quorum. It is also important to note the attendees – when there were any board members absent or if anyone was participating remotely. (See our article on Board member Attendance). It is crucial to write down an outline of each discussion, as well the time that was spent on each topic. This will help in managing the time for future meetings and avoid unnecessary repetition of information from the past.

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