COMEX: how to make it an effective management body?
COMEX, CODIR, COPIL, COMOP... Corporate jargon has no shortage of acronyms for the meetings that take up so much of your time.
Company executives are generally familiar with these terms. This article sheds light on each of them, outlining their scope and objectives, and goes further to give you tips on running effective executive committees.
Have you ever thought about using project management software to help organise your committees? appvizer has selected online software to centralise information, structure, simplify and secure your COMEX.
Definition of COMEX
The Wiktionary defines the COMEX, or executive committee, as the
committee assisting the CEO.
This is a management body which takes the form of a strategy meeting. Its frequency varies according to the size of the company: it can be weekly, monthly, half-yearly or annual.
Who attends?
The COMEX brings together only the company's most senior executives, the directors who are closest to the general management, such as the sales or marketing director.
What is the role of COMEX?
The Executive Committee fulfils a number of key roles in corporate governance. It serves to :
- (keep abreast of the company's results,
- monitor business activity
- develop strategy
- make strategic decisions,
- strengthen cohesion and share a common vision of the company.
Example: Total's COMEX
Since 1 September 2016, Total's Executive Committee has had seven members reporting to the Chairman and CEO:
- Patrick Pouyanné, Chairman and Chief Executive Officer,
- Arnaud Breuillac, President, Exploration-Production,
- Patrick de La Chevardière, Chief Financial Officer,
- Momar Nguer, Executive Vice President, Marketing & Services,
- Bernard Pinatel, President, Refining & Chemicals,
- Philippe Sauquet, Executive Vice President, Gas, Renewables & Power and Executive Vice President, Strategy-Innovation,
- Namita Shah, Executive Vice President, People & Social Responsibility.
It implements the strategies defined by the Board of Directors and authorises the corresponding investments.
Shadow Comex: what is it?
You may have come across the term " shadow comex". What is it?
It's a committee that sits alongside a company's executive committee. It is usually made up of young executives. Its role is consultative; it has no decision-making powers.
It has three main objectives:
- to take a critical look at the company's strategy: the shadow comex has access to the same data as the executive committee, including sensitive data,
- to enlighten senior management on new issues, particularly those relating to digital transformation,
- give rise to new projects, whether for internal company processes or to expand the range of products and services on offer.
Shadow Comex can be used as a managerial tool, but also as a lever for retaining talent by involving them more closely in the company, particularly when it comes to decision-making and the company's strategic vision.
⚠️ Warnings:
- Be careful not to turn it into a marketing argument and communicate on it (too much): you lose the "shadow" aspect and your employees could take a dim view of it;
- Be careful not to create an inter-generational divide within the company, pitting young managers against more experienced ones. The aim is for them to exchange ideas, work together and learn from each other.
Tips for an effective Executive Committee
Difficult decisions to be taken, little time to think about them and make them... How can you ensure that constructive discussions take place during the Executive Committee meeting so that they are productive?
Set an agenda and priorities
This may seem obvious, but it's the first thing to do: let the committee members know in advance and inform them of the subjects that will be discussed as soon as possible. Plan well in advance so that they have some time to prepare and familiarise themselves with the topics.
What are the objectives of this meeting?
This simple question will help you define the agenda and the results expected at the end of the committee.
Clearly identify the subject on the table
Is the subject political, strategic or operational? This needs to be clear in the minds of everyone present so that they are all moving in the same direction. If you are not talking about exactly the same thing, it will be complicated to move forward and reach a decision. This is especially true if you have a short timeframe in which to make a decision.
Benefit from global visibility
The Executive Committee is the moment when all the departments are represented and the opportunity to take stock of the activity of each of them. It provides a 360° view of the company's performance, made possible by analysing the KPIs (key performance indicators) of each department.
Centralising the documents you need thanks to the EDM
Ensuring access to documents for all participants is essential. Taking minutes, for example, means that the information exchanged can be stored, traced and shared.
Companies are obliged to consider secure file sharing to exchange sensitive data without fear of disclosure.
COMEX/CODIR: what's the difference?
The boundary between these two management bodies is sometimes blurred. The distinction between them depends on the size of the company and its culture.
A CODIR, or management committee, is responsible for overseeing the smooth running of a company. It can comprise up to several hundred people, many more than a COMEX. A large group may have dozens or even hundreds of CODIRs, but only one COMEX.
In smaller companies, particularly SMEs, COMEX and CODIR may be synonymous and comprise the same members.
Other company management bodies
The steering committee (COPIL)
This is a central body in the management of very large projects. It rigorously monitors activities, ensures that deadlines are met, defines the resources allocated to the project, and so on. Its members are operational managers involved in project management.
The Operational Committee (COMOP)
This committee brings together managers to take both organisational and operational decisions.
The two concepts can be confused in small companies.
Women on executive committees
Women are increasingly represented on the boards of directors of large companies. And with good reason: since 1 January 2017, French companies have been obliged by the Copé-Zimmermann law, in force since 2011, to have at least 40% women on their boards.
The figures show that introducing this quota has been beneficial. Some large companies even boast a proportion of women in excess of 50% - Engie (56.2%), Icade and Vivendi (54.5%), for example.
But the picture is not so rosy when it comes to the COMEX. The CODIR and COMEX are not subject to any legal obligation regarding the proportion of women in these management bodies.
In 2018, only 15.3% of the executive committees of the 120 largest French companies (SBF 120) were made up of women.
Admittedly, this figure is rising, but the growth is in no way comparable to that of the presence of women on boards of directors.
Focus on z0 Gravity
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This project management and PPM software facilitates the management of projects of all sizes and at all levels: strategic, tactical and operational. It provides a 360° view of projects at all times, and shows the company's overall progress.
The tool acts as a link between departments, business lines and divisions, in a collaborative, secure and customised solution.
Article translated from French