The Exco: a dinosaur in the digital age?

OF the several board committees within a company, the executive committee, or Exco, stands out: both for its influence and the conspicuous absence of guidelines regarding its governance.

Though the Exco's composition tends to be relatively similar across companies - it is usually chaired by the board chairman, and its members comprise executive directors (who have greater availability given their full-time commitment to the company) and senior members of the board (such as the chairmen of board committees) - its powers and responsibilities can vary considerably. This state of affairs reflects the diversity and complexity of needs that boards face.

While the Code of Corporate Governance encourages the formation of, and provides guidance on the audit, remuneration, nominating and board ris…