What is the role of board of directors within a company?

board services management

The board of directors of a company is made up of a group of people responsible for managing the company and defining its strategic direction. Commonly referred to as the board of directors, the board of directors must always have a chairman. If the chairman is also the chief executive officer of the company in question, then he is the CEO of the company.

The role of the Board of Directors

Members of the board of directors are called directors. There are between 3 and 18 of them, depending on the company, and they are elected at the general meeting by the shareholders. The purpose of the Board of Directors is to determine the strategic orientations of the company and to ensure the proper functioning of the decisions taken. It may also appoint the company’s senior managers and monitors the actions taken by them to ensure that they are in line with the strategy set. The Board of Directors can carry out any control it feels necessary for the benefit of the company. The board of directors must also provide the management with all documents that are useful to them in the performance of their duties. The Board of Directors may also be required to determine the remuneration of the company’s executives.

Optimize the management of the Board of Directors

In order to be efficient and effective, Board members must use a suitable work tool that allows them to stay organized, plan actions to be taken, and make decisions in a timely manner. The use of a digital platform allows for the optimization of board services management. All the directors and managers of the company can then easily access the notes, calendars, contacts and documents they need. It is therefore a collaborative tool that facilitates decision-making, for example, during meetings.

Published by Dave John

Decade of work experience in leadership consulting with strong focus on talent acquisition & assessment across different industries and geographies.

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