Summary
In a single four-month period in the middle of this past year, the board of directors at Community America Credit Union found itself facing two vacancies: one planned, and one not at all. But thanks to some forward thinking by other directors, the board was able to fill the spots efficiently and effectively - and with a well-orchestrated sidestep of some of the mistakes boards commonly make when it comes to replacing a director. Board succession planning is a process through which a board takes a proactive approach to ensuring the organization has, and will continue to have, a board composed of directors who possess the qualifications, experience, skills and attributes needed to fulfill the board's governance responsibilities. Last year, CommunityAmerica CU overhauled its governance process and established a revised slate of committees. Among them: a new committee devoted to volunteer development. Its functions include the recruitment, nomination and election of directors at the annual meeting.
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Outside the Lines
In a single four-month period in the middle of this past year, the board of directors at Community America Credit Union found itself facing two vacancies: one planned, and one not at all. But thanks to some forward thinking by other directors, the board was able to fill the spots efficiently and effectively-and with a well-orchestrated sidestep of some of the mistakes boards commonly make when it comes to replacing a director.
How did the board at Community-America CU accomplish this? Through board succession planning.Plainly speaking, board succession planning is a process through which a board takes a proactive approach to ensuring the organization has, and will continue to have, a board composed of directors who possess the qual...See the full content of this document
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