Every chief executive needs to understand their freedom to act. Many organisations limit this to a schedule of financial delegations with stated limits. That is necessary, useful but ultimately insufficient.
The governance experts and our strategic partner at BoardWorks have created and developed over the past twenty years, a best practice template for a board charter. A sample and two chapter excerpts from this document are available now.
This eight (8) page document focuses on clarifying the role and responsibilities of the board as a whole and of directors individually. It then outlines policy for the relationship with the chief executive and the high-level principles of delegation. It also includes templated governance level committee terms of reference.
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