9 Mistakes Companies Make With Their Board Materials
Why do directors receive information – known as “board materials” – before each board meeting?
First, there’s the legal reason. It helps to provide a record of informed decision-making. Second, you’re looking to provide information in advance so that the time that the board spends together with management can be focused, analyzing, discussing & deciding. Not just watching presentations.
The biggest problems of the past, way too few – or too many – board materials, last-minute delivery of materials, are just that for the most part. Vestiges of the past.
Here are the 9 biggest mistakes that some companies still make:
- Not having a consistent look & feel
- Not using an organizational matrix
- Dumping in more because that’s easy
- Holding up delivery until all materials are in
- Summaries that don’t properly explain
- Not including a CEO/board chair cover letter
- Uninviting formatting
- Jargon in materials
- Leaving your crown jewels in the cloud
For many more Vid-Guides dealing with corporate & securities law, corporate governance, E&S issues and more – particularly if you want to review any Vid-Guides referred to during this Vid-Guide – see the list of Vid-Guides spread throughout these categories:
- Corporate Governance
- Proxy Season
- Executive Pay
- ’34 Act/Other
- ’33 Act/Deals
- Sustainability/E&S
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