“We currently hold 10 Board meetings per annum. They usually commence at 10 am to allow NEDs to travel in the morning. On a day where we have a Committee meeting the Board is pushed on to allow 1
We hold 10 board meetings per year although this may well come down to 9 shortly. These last half a day. In addition we have a full day strategy review once a year. Two board meetings tend to be linked to vists to operating premises and will usually be preceded by a board dinner. We schedule 4 Remco and 4 Audit meetings per year although often further Remcos are added. These generally last no more than 2 hours. Nominations committees are generally 3 per year, often over dinner, with all NEDs attending, together with the CEO and HR Director for part of the meeting.
Finance information has been simplified over the years and presently comprises main pack of about 25 pages, mainly graphs, plus papers on any specific proposals such as capex or banking changes
FTSE 250said
We have 10-12 meetings per annum one of which is a telephone meeting. 6 are timed to co-incide with external announcements (IMS, Annual and interim results, pre-close statements). We have around two site visits per annum and reserve time durign the day to hold a meeting should this be necessary. At the remaining meetings we have presentations on matters of special interest which are identified at the start of each year in addition to normal business.
Audit Commttee meetings in connection with the annual and intetim results are where possible, held so that there is a weekend between it and the board meeting.
Board meetings start at 9:15 and are usually finished by 1:30. Committee meetings are held after the conclusion of the board meeting such that all business is concluded by around 4:00.
We have a 27 page board fiance report, providing commentary on all matters financial at a consolidated and divisioanl level. This is accompanied by 10 pages of detailed financial results by statutory entity to enable the board to drill into the detail shoudl they wish.
We also hold a board strategy day each January.
FTSE 100said
We have 8 board meetings a year, which are scheduled for 4 hours each but can extend. A board dinner follows. Committee meetings held beforehand over the course of 1.5 days and are scheduled for two hours each. The amount of financial information presented is in within the same as others who have answered and in addition the board receives full accounts packs each month.
FTSE SMALL CAPsaid
The variety of answers to date illustrate that there is no right or wrong positions on these matters – the pattern tends to be driven by the needs of the business. Consequently I would add the following observations: 1. committee meetings should preceed the board to allow for the flow of recommendations and for key matters considered at those committee meetings to be reported to the board; 2. There does seem to b a trend for fewer meetings of longer duration; 3. committee meetings are aligned with board meetings to reduce the travelling time for NEDs; 4. quality rather than quantity of financial information is more important. in particular to encourage the CFO/FD to add a narrative – what is it that the numbers are telling/illustrating etc?
FTSE 250said
We hold 6 scheduled meetings per year. They are held over 2 days, starting at around lunchtime on day one and finishing at around 6pm. On day two we start at 0830 and end at around 4pm. There is a dinner to which senior management, or a guest speaker is invited. Committees are planned around the sessions, as are site visits – new shops or production facilities.
At each meeting the latest management accounts are considered as is current trading, and the full year outlook.
FTSE 100said
We hold 5 board meetings a year. They all have at least one committee meeting associated with them. Generally they are held over two days with a dinner in the evening which is often a non-executive meeting.
We often start at 9.30 on the first day and go on until 4.30 the next day. The financial element is generally about 20 pages but the board also get an accounts pack each month.
FTSE 100said
0
FTSE SMALL CAPsaid
We hold 6 scheduled meetings each year – in the past 2 years there have also been a number of single issue meetings/board calls arranged on an ad hoc basis. We generally start at 10.00am to enable travel and the board meetings generally last for 4 hours. We hold the interim and annual accounts related audit committee meetings on a separate, earlier day to the board meeting. Other committee meetings are held prior to the board meeting in the case of the audit committee (so the board meeting starts later) but in other cases the committee generally meets after the board meeting. We typically end up with between 5 and 6 hours of meetings during the day. We are seeking to reduce the volume of financial information provided to each meeting and to focus on strategic level issues, but we have 5 separate reporting entities so this is a slow and arduous process. We are currently down to about 50 pages plus a summary narrative from the FD. Our target would be to halve this over time. We are introducing a secure board portal and the intent is to have the full management accounts available in that resource centre as a point of reference for the baord and for the board packs to then focus on the key issues.
FTSE 100said
We have 6 board meetings a year, usually around 4 hours each. Committee meetings are usually held the previous day, each lasting between 2- 4 hours, on average 5 hours in total. Limited amount of financial information presented at each meeting, more as appropriate in Audit, meetings are strategic and future focussed (plus obvious governance). Having an inetrnational Board means that we try to schedule Board and Committee meetings over a 24 hour period.
FTSE SMALL CAPsaid
Experience suggests that the number and timing of Board and Committee meetings depends on the Chairman’s preferences (provided they remain within Code guidelines). Current company has cut down from 10 to 8 full Board meetings per annum, but replaced the two “lost” board meetings with strategy days. The board members travel the night before and meet for dinner before formal meetings take place. The dinner meetings are useful for presentations or informal briefings on the matters to be formally discussed the next day. Board meetings generally last between 2 1/2 and 4 hours, dependent on the agenda. Committee meetings (4 Audit, 4 Remco, I or 2 Nom Co) can be as little as 30 mins or up to 1 1/2 hours, depeding on agenda. They are usually held before the Board meetings. What finance information is provided varies hugely from company to company: what is important is that NEDs in particular are getting the right information to make a judgement, so in general the requests of Chairman and Audit Committee Chairman govern what is provided.
FTSE 100said
We have 5 Board meetings per annum. They start at 8 or 8.30 and finish by 3pm. Committee meetings, are held the previous afternoon. Rem Com runs 2-3 hours, Audit Committee 3-5 hours. Quantity of Financial information depends on the date of the meeting. Meetings for consideration of full and half year results have more information. Pre-read varies but around 20 pages for the Board and considerably more for the Audit Committee.
AIMsaid
We hold 10 scheduled Board meetings, starting at 9.00am: if a Committee meeting is on the same day the Board is pushed accordingly; however, the NEDs like that time for a face to face catch up with those NEDs and directors not involved in Committee meetings.
Meetings conclude when business is completed – it depends on agenda. Normally by 1.00pm.
20 pages on finance – although some does spread to A3 pages.
FTSE 250said
Happy to help but believe it would be more useful if we talked. My email address is aconfavreux@gemdiamonds.com.
We hold 10 board meetings per year although this may well come down to 9 shortly. These last half a day. In addition we have a full day strategy review once a year. Two board meetings tend to be linked to vists to operating premises and will usually be preceded by a board dinner. We schedule 4 Remco and 4 Audit meetings per year although often further Remcos are added. These generally last no more than 2 hours. Nominations committees are generally 3 per year, often over dinner, with all NEDs attending, together with the CEO and HR Director for part of the meeting.
Finance information has been simplified over the years and presently comprises main pack of about 25 pages, mainly graphs, plus papers on any specific proposals such as capex or banking changes
We have 10-12 meetings per annum one of which is a telephone meeting. 6 are timed to co-incide with external announcements (IMS, Annual and interim results, pre-close statements). We have around two site visits per annum and reserve time durign the day to hold a meeting should this be necessary. At the remaining meetings we have presentations on matters of special interest which are identified at the start of each year in addition to normal business.
Audit Commttee meetings in connection with the annual and intetim results are where possible, held so that there is a weekend between it and the board meeting.
Board meetings start at 9:15 and are usually finished by 1:30. Committee meetings are held after the conclusion of the board meeting such that all business is concluded by around 4:00.
We have a 27 page board fiance report, providing commentary on all matters financial at a consolidated and divisioanl level. This is accompanied by 10 pages of detailed financial results by statutory entity to enable the board to drill into the detail shoudl they wish.
We also hold a board strategy day each January.
We have 8 board meetings a year, which are scheduled for 4 hours each but can extend. A board dinner follows.
Committee meetings held beforehand over the course of 1.5 days and are scheduled for two hours each.
The amount of financial information presented is in within the same as others who have answered and in addition the board receives full accounts packs each month.
The variety of answers to date illustrate that there is no right or wrong positions on these matters – the pattern tends to be driven by the needs of the business. Consequently I would add the following observations:
1. committee meetings should preceed the board to allow for the flow of recommendations and for key matters considered at those committee meetings to be reported to the board;
2. There does seem to b a trend for fewer meetings of longer duration;
3. committee meetings are aligned with board meetings to reduce the travelling time for NEDs;
4. quality rather than quantity of financial information is more important. in particular to encourage the CFO/FD to add a narrative – what is it that the numbers are telling/illustrating etc?
We hold 6 scheduled meetings per year. They are held over 2 days, starting at around lunchtime on day one and finishing at around 6pm. On day two we start at 0830 and end at around 4pm. There is a dinner to which senior management, or a guest speaker is invited. Committees are planned around the sessions, as are site visits – new shops or production facilities.
At each meeting the latest management accounts are considered as is current trading, and the full year outlook.
We hold 5 board meetings a year. They all have at least one committee meeting associated with them. Generally they are held over two days with a dinner in the evening which is often a non-executive meeting.
We often start at 9.30 on the first day and go on until 4.30 the next day. The financial element is generally about 20 pages but the board also get an accounts pack each month.
0
We hold 6 scheduled meetings each year – in the past 2 years there have also been a number of single issue meetings/board calls arranged on an ad hoc basis.
We generally start at 10.00am to enable travel and the board meetings generally last for 4 hours.
We hold the interim and annual accounts related audit committee meetings on a separate, earlier day to the board meeting. Other committee meetings are held prior to the board meeting in the case of the audit committee (so the board meeting starts later) but in other cases the committee generally meets after the board meeting. We typically end up with between 5 and 6 hours of meetings during the day.
We are seeking to reduce the volume of financial information provided to each meeting and to focus on strategic level issues, but we have 5 separate reporting entities so this is a slow and arduous process. We are currently down to about 50 pages plus a summary narrative from the FD. Our target would be to halve this over time.
We are introducing a secure board portal and the intent is to have the full management accounts available in that resource centre as a point of reference for the baord and for the board packs to then focus on the key issues.
We have 6 board meetings a year, usually around 4 hours each.
Committee meetings are usually held the previous day, each lasting between 2- 4 hours, on average 5 hours in total.
Limited amount of financial information presented at each meeting, more as appropriate in Audit, meetings are strategic and future focussed (plus obvious governance).
Having an inetrnational Board means that we try to schedule Board and Committee meetings over a 24 hour period.
Experience suggests that the number and timing of Board and Committee meetings depends on the Chairman’s preferences (provided they remain within Code guidelines).
Current company has cut down from 10 to 8 full Board meetings per annum, but replaced the two “lost” board meetings with strategy days. The board members travel the night before and meet for dinner before formal meetings take place. The dinner meetings are useful for presentations or informal briefings on the matters to be formally discussed the next day.
Board meetings generally last between 2 1/2 and 4 hours, dependent on the agenda.
Committee meetings (4 Audit, 4 Remco, I or 2 Nom Co) can be as little as 30 mins or up to 1 1/2 hours, depeding on agenda. They are usually held before the Board meetings.
What finance information is provided varies hugely from company to company: what is important is that NEDs in particular are getting the right information to make a judgement, so in general the requests of Chairman and Audit Committee Chairman govern what is provided.
We have 5 Board meetings per annum. They start at 8 or 8.30 and finish by 3pm. Committee meetings, are held the previous afternoon. Rem Com runs 2-3 hours, Audit Committee 3-5 hours. Quantity of Financial information depends on the date of the meeting. Meetings for consideration of full and half year results have more information. Pre-read varies but around 20 pages for the Board and considerably more for the Audit Committee.
We hold 10 scheduled Board meetings, starting at 9.00am: if a Committee meeting is on the same day the Board is pushed accordingly; however, the NEDs like that time for a face to face catch up with those NEDs and directors not involved in Committee meetings.
Meetings conclude when business is completed – it depends on agenda. Normally by 1.00pm.
20 pages on finance – although some does spread to A3 pages.
Happy to help but believe it would be more useful if we talked. My email address is aconfavreux@gemdiamonds.com.