An executive board member has his corresponding duties. If you are one, you are expected to be responsible for the governance of the organization. You support and review the performance of the chief executive. You participate in board resolutions. In every fiduciary duty, you are expected to perform your executive member duties in accordance to the proper law and the dictates of your conscience. In split decisions, more often you are embattled between the morals of your integrity and the exercise of your duties which are reiterated in this informational website. To assist you further to be a responsible board member, follow these guidelines:
- Act in good faith. As a member of the executive board, you should act honestly. Acting in good faith is a subjective task. You may consider one act as honest and bona fide but not what the courts may say. You must be careful in choosing the directions you are deciding to take. Every act that you execute should always be in the interest of the company but within the corporate law.
- Exercise powers for a proper purpose. You should not use your powers as a board member to manipulate opportunities to favor someone – be it a friend or a relative. You should not, in any circumstances, use the company’s assets, opportunities or information as a means for personal gain. You should not compete with the company directly creating a conflict of interest. Your loyalty should adhere always to your fiduciary duties and the best interest of the company.
- Always be in attendance. Being visible and participative in all board executive committee meetings and conferences is an aspect in performing your duties right. Your attendance validates your position and it gives you first hand information of the company’s standings. If a board member is always absent, it will reflect on him an image of being irresponsible. In the event that you cannot avoid being not in attendance, you should notify your President as soon as possible. Giving your co-members and your chief executive information on your whereabouts will affirm your capability of being reliable.
- Always provide documentation. You should provide written reports in every board meeting. It should outline the agenda and activities of the board committee. It should enumerate the issues in every board member’s area of responsibility. By documenting the meetings, you would not miss any crucial information that could cost you your membership should you fail to address it. Documenting your meeting will track the issues and provide evidences in case the board decisions fail the interests of your company.
In any areas in your life, you should always be responsible. A board member who is being responsible affirms himself capable of a member’s duties. A company will function at its best if executive board members are loyal to their responsibilities. You are not only building trust within your board and your company but you are generally running a successful corporation. People who are dependable always leave a legacy within the company they work with.