A nominating committee is a group formed usually from inside the membership of an organization for the purpose of nominating candidates for office within the organization. It works similarly to an electoral college, the main difference being that the available candidates, either nominated or "written in" outside of the committee's choices, are then voted into office by all of the members. The system is a part of governance methods often employed by corporate bodies, business entities, and social and sporting groups - especially clubs. The intention is that they be made up of qualified and knowledgeable people representing the best interests of the membership. In the case of business entities, their directors will often be brought in from outside, and receive a benefit for their expertise.
Some observers believe that nominating committees are vulnerable to manipulation by the controlling leaders of the group and that this is the main reason for their formation. Candidates running for office outside of the nominating committee's choices stand little chance of election.
A nominating committee can also be formed for the purpose of nominating persons or things held up for judgement by others as to their comparative quality or value, especially for the purpose of bestowing awards in the arts, or in application to industry's products and services. The objective being to update, set, and maintain high and possibly new standards.
SEC Proposes Rules Regarding Nominating Committee Functions and Communications Between Security Holders and Boards of Directors.
Sep 16, 2003; By Stephen W. Carr, P.C., Joseph L. Johnson III, P.C., Gilbert G. Menna, P.C. and L. Kevin Sheridan Jr., P.C. Introduction The...
SEC Adopts Final Rules Regarding Nominating Committee Functions And Communications Between Security Holders And Boards Of Directors.
Jan 05, 2004; By Joseph L. Johnson lll, Gilbert G. Menna P.C, Ettore A. Santucci P.C, L. Kevin Sheridan Jr and Suzanne D. Lecaroz Esq...