This due diligence memorandum sets forth the criteria that a company's board believes are appropriate and useful in identifying, evaluating and recommending nominees for election or appointment to the Board. These criteria and protocols are subject to change and modification from time to time, as deemed by the board to be in the best interests of a company.
Illinois Memorandum Regarding Potential Board Member Nomination Criteria and Protocols
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US-DD07252
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Here are my favorite characteristics of an outstanding board memberPre-existing passion for the cause.Eagerness to participate at every meeting.Willing to prepare ahead for meetings.Anxious to serve on committees.Ability and propensity to give above average financially.Strong desire for stewardship to others.More items...
Here are the critical qualities of an effective board member:Dedicated and Committed.Able to lead and influence others.Straightforward and impartial.Knowledgeable and an insatiable learner.Values discretion and confidentiality.
Nonprofit boards want directors who fulfill at least one of the three W's Work; Wealth; Wisdom.
When you are recruiting board members, look for these characteristics:Expertise in a specific area which can help your corporation.Leadership and management experience, especially in related businesses.Commitment to the business.Time and energy to devote to board duties.Integrity and lack of a conflict of interest.More items...?
If you are thinking of putting together a board, I would suggest the following 10 criteria for selection.Innovators/creative problem solvers.Challengers.Strategic thinkers.Diversity.Sales experience.Marketing experience.Industry experience.Capital-raising experience.More items...?
The Board of Directors shall be elected by written ballot or acclamation at the annual meeting by majority of a quorum of the general membership of the agency.
Here are five things to consider when putting together your personal board of directors:Create a diverse board.Have virtual board members.Have an odd number of board members.Invest in your board.Always be looking for new members.
Here are 9 essential criteria you should consider to recruit effective board members.Passion for the mission.Expertise and ability.Philanthropic history.Reputation.Willingness to advocate for the organization.Ability to work in groups and to lead.Connection to resources.Time.More items...
For publicly listed companies in the U.S., members of the board of directors are elected by shareholders. Board candidates can be nominated by the board's nomination committee, or by investors seeking to change a board's membership and policies.
Here are my favorite characteristics of an outstanding board memberPre-existing passion for the cause.Eagerness to participate at every meeting.Willing to prepare ahead for meetings.Anxious to serve on committees.Ability and propensity to give above average financially.Strong desire for stewardship to others.More items...