#7576
Carol RipleyCarol Ripley
Participant

Hi Everyone. Regarding the question whether you should seek a change to your rules to allow the Board to appoint directors with specific desired skills, I am on a Board that has recently done just that. The company has significant risk and is operating in new financial markets that many of the current directors have little experience in, and the Directors felt that we needed to recruit specific skill sets around risk assessments and evaluations. This new director position is currently unfilled, although we are attempting to recruit for the right individual to fill the role. This new director will have a three year term, but a majority of the current elected directors can terminate the recruited director if we determine that the specific skills we wanted are no longer necessary (i.e. if the business model itself changes).

This is a new initiative for us and so we don’t know how it will work out, but we definitely identified a skill gap that we wanted filled sooner rather than later. We were concerned that an elected director would not necessarily possess the required competencies, even if we identified the need when seeking new directors. I still think it will be a balancing act to ensure we have sufficient elected directors versus recruited directors overall.

3+

“I thoroughly enjoyed the Good Governance Matters course offered by Co-operatives First. The course provided a solid background on governance generally and specific examples of good governance practices in co-operatives. It is uncommon to find governance training specific to co-operatives so this was refreshing.”

Janet Taylor (Corporate Secretary)

Libro Credit Union

“The Good Governance Matters Course was a valuable course. I shared it with the [Arctic Co-operatives Limited] Senior Leadership Team. If it ever comes up again, I highly recommend others to take it.”

Mary Nirlungayuk (Corporate Secretary and Vice-President, Corporate Services)

Arctic Co-operatives Limited

“The online course, Good Governance Matters was very informative, easy to navigate and discussed issues relevant to our needs as a Board of Directors. This course is a great tool for boards to build their knowledge to become strong, strategic boards.”

Lori Sanders (President)

Sherwood Co-op

“This course has greatly increased my understanding of what good governance could/should look like and how each part (boards, management, members) plays a vital role in the co-operative’s success.”

2017 PARTICIPANT

“This course was highly enjoyable, and relevant to working in not only the co-op space, but with any group that needs to make decisions.”

2017 PARTICIPANT