BOARD OF DIRECTORS GENERAL INFORMATION
- MEMBERSHIP – The Board consists of seven Directors who are elected to a three-year term. Directors may be elected for up to three consecutive terms for a maximum of nine years. Board Officers consist of the President, Vice President, and Secretary/Treasurer. Officers are elected by the full Board. Meetings are presided over by the Board President.
- BOARD BUSINESS – A Board meeting always includes financial review and discussion, information on stockholders/Mega Members, and a detailed administrative report from Mike Buck, CEO, which routinely requires action by the Board. Additional business includes decisions related to contracts, operating budgets, and topics related to the operation of three grocery and 19 convenience stores.
- MEETING SCHEDULE & LOCATION – There are typically 11 regularly scheduled monthly meetings and one annual meeting. There is also a full-day strategic planning session. One-hour committee meetings may be held in the course of the year. All meetings are usually held in the Board Room in the Store Support Center located at 1201 S. Hastings Way, Eau Claire.
- COMMITTEES – Current Board Committees include: Executive, Finance and Audit, Personnel, Building, Nominating, Long-Range Planning, and Corporate Governance. Board members are usually on two committees.
- ORDER – Meetings follow Roberts Rules of Order.
- COMPENSATION – A Director is compensated a set amount for each meeting they attend and a flat fee for each committee to which they are assigned for the year.
- Potential Board candidates are selected by the Nominating Committee. From that group the Board chooses the final slate, and all the stockholders are mailed or emailed notification of the slate in November of each year.
- Although not typical, after that notification any stockholder who desires to be on the Board can petition to be added to the ballot. They must obtain signatures from 15 percent of voting members in good standing (approximately 65-70 signatures) and submit to the board at least 60 days before the annual meeting.
- The ballot is sent to all eligible stockholders in early February.
- The elected Board member(s) are announced at the annual meeting in March.
- PREPARATION – Board members are expected to read and be up to date on emails and other information related to the Board.
- CONFIDENTIALITY – All information sent to a Board member or discussed at a meeting is to be considered confidential and not for discussion in public. Questions or inquiries on any subject are to be referred to the CEO or Board President.