The Executive Session: an underused forum for Nonprofit Boards?
By: Eugene Fram
Nonprofit boards have always used “executive sessions” to advantage. Meeting without the presence of management offers the opportunity for directors to openly discuss such topics as audit committee concerns, CEO compensation and the unexpected demands of terminations or succession. Prior to the passage of Sarbanes-Oxley I felt that such privately held meetings should be held infrequently.
However, the nonprofit governance environment of the 21st century has convinced me, and many others, that more frequent utilization of the ES can have benefits for the nonprofit. (more…)