Guidelines for nominating individuals to serve on the GMAC Board of Directors.
The success of GMAC in achieving its strategic intent depends upon the strength of its Board.
Board Composition
The Board of Directors shall be composed of a minimum of fifteen (15) and a maximum of nineteen (19) Directors, including the CEO (as a voting ex officio Director), who are to be qualified, nominated, and elected, each for a four (4) year term, as follows:
- A minimum of six (6) and a maximum of eight (8) Directors are deans or chief executive officers of the Members (the “Dean Directors”). Each Dean Director is elected by a majority vote of the Deans, or other chief executive officers of the Members.
- A minimum of four (4) and a maximum of six (6) Directors are selected from the Primary Representatives or Alternate Representatives of Members (the “Representative Directors”). Representative Directors must be employed by the graduate business school (or equivalent) of a Member. Each Representative Director is elected by a majority vote of the Primary or Alternate Representatives of the Members.
- A minimum of four (4) and a maximum of six (6) of the Directors are to be elected by a majority vote of the Board of Directors then in office (the “Board Elected Directors”). Each of the Board Elected Directors must be an executive or former executive of a not-for-profit or a for-profit organization.
Whatever their category, all Board members have a similar set of duties. These include: determining GMAC’s strategic objectives and supporting policies; monitoring and maintaining GMAC’s financial health; appointing the President and CEO; and ensuring good governance and risk management practices. Board members’ primary responsibility is to GMAC, although they all bring different worldview and perspective.
Nomination Information
As you consider who to suggest for the GMAC Board, please remember the following:
- All Board members need to have a strong understanding of the Board’s strategy and fiduciary obligations. The distribution of Board members’ other competence and experience varies over time, reflecting the needs of the organization.
- You must discuss your nomination(s) with the individual(s) prior to submission. By nominating any individual, you attest to their willingness to be considered for the open Board positions.
- Nominations close on February 6, 2024.
- Use the Board of Directors Nomination Form to nominate yourself and/or other individuals.
Nominate for the GMAC™ Board of Directors
For your reference, the following documents are also available:
Nomination and Election Process
Nominations received by February 6, 2024 will be reviewed by the Nominating & Governance Committee of the GMAC Board of Directors. In April 2024, the Board of Directors will select the slate of directors to put forward for election. The online election period will run from April 23 to May 22, 2024.
- Selected Dean Directors will be elected by majority vote of the Deans or other chief executive officers of the membership.
- Selected Representative Directors will be elected by majority vote of the Primary or Alternate Representatives of the membership.
GMAC will confirm and validate proxy votes on May 24 and newly elected Board members will be announced shortly thereafter.
Thank You
Your participation in the nomination and subsequent election processes is required per the GMAC Membership Policy and essential to maintaining the strength of the Board. If you have any questions, please contact your school's GMAC Market Development Manager or the Governance team at governance@gmac.com.