Board of Directors - Responsibilities
Every limited company like our Co-Op has a board of directors which in our case is elected or appointed by the members.
The board of directors is the Co-Op’s administrative body and acts on the members’ behalf between annual general meetings.
Qualifications — A Director will:
- be a fully paid-up member in good standing of the Co-Op for a minimum of 30 days prior to nomination and election at the Annual General Meeting.
- be over 18 years of age at time of election and/or appointment.
- not be an employee and/or contractor of the Co-Op.
- have a genuine desire to assist in the success of the Co-Op and not act in a conflict of interest that is detrimental to its operation and that success.
- be willing to be actively involved on committees, and cooperatively work together with fellow directors, appointees and volunteer staff, and the membership at large for the common good of the Co-Op.
Roles and Responsibilities
As representatives of the membership, directors have the legal right to operate the Co-Op. They must manage or supervise the Co-Op’s business and affairs. They can use all the powers of the co-operative to do their job. Sometimes the Co-Op’s Rules will limit what the directors can do.These limits must not prevent the directors from doing their job as laid out in the Co-operative Association Act.
- Collectively set goals, objectives and administrative policies
- Adopt long term business strategic plans
- Regularly connect with store staff, volunteers and membership to co-operatively share ideas and recommendations regarding Co-Op operations
- Put plans in place for succession of the Board of Directors for future years.
If a board member must leave their position prematurely, 3 months’ notice must be given in writing in order to find a replacement. If a board member leaves without this notice and attempts to return as board member later, their application will be refused by the board. Extenuating circumstances such as illness or accident will be taken into consideration.