Board members should receive a mailing at least 48 hours before the meeting. This package should include a proposed agenda, minutes from the previous meeting, key financial performance measures, and resolutions to be voted. Perhaps most importantly, this package should contain one or two page write-ups by each operating manager and the CEO describing key accomplishments since the last meeting, and important challenges and goals facing the company. Meetings should last two to three hours, begin and end on time, and be run efficiently while still allowing for drill down discussions on important topics. Management members should be invited to present and when appropriate attend segments of the meeting.
Some boards meet monthly, some every other month, some quarterly.
As a rule, the boards of younger companies meet more frequently since they require more board help. Like so many other things, a CEO gets out of a board only what he or she puts in. A board kept in the dark or on the periphery of the company's growth can only be a drain on the CEO's schedule. An informed, involved board can be a huge asset to the success of both the company and the CEO's career.