DIRECTORS OR BOARD MEMBERS
A cooperative is a member-owned and controlled business in which benefits are received in proportion to use. Control is preserved by members electing directors to represent their interests in governing the organization. Together, the directors hire and oversee the general manager or CEO; establish operating policies and act to meet the mission and vision of the cooperative through forward thinking and strategic planning. A board must be aligned with the overall strategy of the cooperative, aligned with the CEO and aligned with the long-term interest of the membership.
- Board members have a duty of care to perform their responsibilities with a degree of care that an ordinarily prudent person in a like position would use under similar circumstances.
- Board members have a duty of loyalty to act in good faith and in the best interests of the organization.
- Board members have a duty of obedience to ensure that the organization complies with applicable laws and regulations along with its charter and bylaws.
SECURING TALENTED BOARD MEMBERS
GENERAL MANAGER or CEO EVALUATION