What is an executive committee?

An executive committee refers to a specific group of high-level employees at a company that is tasked with making key decisions that affect the organization's overall success or failure. Executive committees usually include some of a company's most high-ranking officials, such as:

• Chief Executive Officer (CEO)
• Chief Financial Officer (CFO)
• Chief Operations Officer (COO)
• Chief Technology Officer (CTO)

  Executive committees are tasked with developing a company's strategy and direction, as well as managing the daily operations of the organization, and making key decisions with the goal of future success. Most senior-level executives are involved with:

• Determining the objectives and goals of the company
• Creating policies and procedures
• Overseeing budgets and financial activities
• Leading departments and teams of employees
• Making sure all policies and procedures are implemented in an effective manner

  In addition to these core duties, executive committees might also have other key functions, such as managing important relationships with partners, clients, or other stakeholders, such as investors, regulatory agencies, or customers. They might also be tasked with being the public face of a company for press conferences, media interactions, or any event that is public.

  Executive committees are often convened in times of internal company crisis, or during external crises or uncertainty, like severe shifts in the market, or new developments that disrupt the industry their company is in.

  These bodies play crucial roles in determining the strategies and business approaches of their companies and aim to grow their organizations in ways that continue to produce profit and success.