As a CEO, I’ve always wondered why I leave some board meetings feeling energised, confident, and ready to take on any challenges ahead. Yet, I also left some meetings deflated, confused and demotivated.
What was different?
It wasn’t about the difficulties of the topics or the severity of the challenges discussed in the board meeting, or even the challenging feedback I sometimes received.
It was much more about the quality of the board’s input and the clarity I gained about the right path forward.
Similarly, as a NED and Board Advisor, I sometimes wonder how CEOs get the clarity and direction they need after ineffective board meetings.
Yes, you will have some challenging board meetings. But if, as a CEO, you all too often feel that you are not getting real value out of board meetings, then it is time to make some changes. If not addressed, such board inefficiencies can cause value-destroying board frictions:
- frustration and misalignment between the executives and the board
- slow decision making
- erosion of trust
- time-consuming, lengthy board preparations
It can get messy quite quickly, particularly if the company goes through difficult trading conditions, exactly at times the CEO need the most clarity from the board.
If you as a CEO feel that you are not getting value from your Board and don’t leave board meetings energised and clear on the direction of travel, then ask yourself the following questions:
- Do we have the right board composition?
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- What is the right size of the board for our company?
- What is the useful split between NED and executives on the board?
- Do we have the right mix of skill, experiences, connections and personalities on our board?
2. Is there a positive and collaborative dynamic between the Chair and the CEO?
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- Do we have defined and clear roles and responsibilities for both the Chair and the CEO?
- Is there a collaborative, open and transparent working relationship between the Chair and CEO?
- Do the Chair and the CEO have a shared vision for the company?
- Are there effective board communications in place?
- Do we utilise appropriate communication channels and tools to keep the board updated and engaged?
- Do you as CEO expand communication beyond board meetings and cultivate personal connections with board members?
- Do you as CEO pre-empt any questions and seek individual input on key matters from each director before the board meetings?
- What can be done to have the most effective board meetings?
- How clear is it for the board what is expected from them for each agenda point? What is for information, consideration, discussion, and approval?
- Is the board pack in an agreed-upon standard and format, making it easy for the board to have all the relevant information they need for decision-making?
- Does the Chair effectively lead the Board to facilitate the right level of contribution and collaboration from each member? Does the Chair ensure that the board’s decisions are clear?
A periodic review of these questions, ideally with the Chair, will help the board effectively provide the CEO with the right support and direction.
A successful board meeting is one where the CEO walks away with clarity, actionable outcomes, and a renewed sense of focus and support to execute the company’s strategy.