Definition of Nomination committee:
The term nomination committee refers to a committee that acts as part of an organization’s corporate governance. A nomination committee evaluates a firm's board of directors and examines the skills and characteristics required of board candidates. Nomination committees may also have other duties, which vary from company to company.
A committee acting under an organizations corporate governance area. These committees tend to focus on evaluating the companys board of directors as well as the skills that are needed in order to be such a candidate. Nomination committees have other various duties that can differ by company.
Nominating committees serve a very useful and important purpose for different organizations ranging from nonprofits to major corporations. Also referred to as nominating committees or nominating and governance committees, they are often made up of the chairman of the board, the deputy chairman, and the chief executive officer (CEO). There are usually at least two members on each committee, although the exact number of people who serve on the committee tends to differ based on the type and size of the organization. The length of time each member serves on the committee also varies depending on the nature of the entity.
How to use Nomination committee in a sentence?
- The committee evaluates a firm's board of directors and examines the skills and characteristics required of board candidates.
- They are often made up of the chairman of the board, the deputy chairman, and the company's CEO.
- A nomination committee is a committee that acts as part of an organization’s corporate governance.
Meaning of Nomination committee & Nomination committee Definition