The XCEO Integrated Board Leadership Process provides the corporate governance committee, and the full board, an improved methodology to develop and maintain a highly effective board. This process helps to mitigate risk and enhance the oversight of the organization’s strategic direction by integrating internal and external corporate governance entities to increase communication and effectiveness.
Collaboration between committees and both internal and external entities is not unusual. For example, the audit committee regularly partners with internal finance professionals and external auditors. Similarly, the compensation committee frequently partners with internal human resources groups and external compensation consultants. Finally, the corporate governance and nominating committee regularly partner with the board secretary, external non-management resources, such as lawyers and executive recruiters, and other functional groups. The integration of the board process has proven to be successful at the committee level and thus should be expanded to the whole board.
Like most effective organizations, the board’s ultimate success is dependent on the performance of all of its parts. Therefore, no single committee is likely to be successful without the full support of the board. Likewise, it is doubtful that a board will be successful if its committees are not successful. In other words, no board, or committee, is an island unto itself. All elements of the board infrastructure must work together effectively in order for the board to achieve a high level of leadership performance.
The Integrated Board Leadership Process is designed to assist the corporate governance committee, and the full board, in developing and maintaining a highly effective board which positions itself to mitigate risks. This process should incorporate all corporate governance partners XCEO’s wide range of governance products help to create the synergy your board requires to reach its full potential.