In the previous article we explained in detail The responsibility of the board of directors and we revealed the powers of the board and how it conducts the activities of the company and works hard to achieve the objectives and it is obvious that the board of directors consists of a selected group of members who perform multiple and specialized roles within the board until the tasks are properly completed.
Today we will review the methods of appointing board members and their personal characteristics and abilities
Today we will review the methods of appointing board members and their personal characteristics and abilities
Appointment to the board of directors is either for a founding partner and shareholder in the company's capital or by announcing the opening of the nomination for membership of the company's board of directors in accordance with the Companies Law, laws and regulations and then passing the personal interview that determines the extent of the candidate's ability to assist the chairman of the board in making the right decisions and achieving the objectives.
Number of board members:
The number should be odd so that there is no tie in votes when making decisions within the board, so the number is between five to seven members in small companies, while large companies need a number between nine to eleven members, and in all cases companies need a sufficient number of members in the board of directors for the validity of meetings with a quorum, in case one or more members do not attend some sessions, and caution must be taken against unjustified increase in the number of board members as this increase may be a reason to slow down decision making, which negatively affects the progress of the company.
Board member specifications
He must have a good reputation and no judgments have been issued against him in cases affecting honor or financial solvency during his work, and he must have experience in a field needed by the company such as legal affairs or a financial manager who has the ability to control accounts and work to increase capital and deal with banks and financial institutions, and if the company works in the engineering or technical field, it is preferred that he has extensive experience in this field, and he must have a leadership personality that influences workers, integrity and the absence of conflict of interest and the board member must write a declaration that he will not profit from board membership and his commitment to good performance for the sake of the company.
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