The Board of Directors – The Pillar of Governance in Consumer Cooperatives

Within the cooperative system of the Republic of Moldova, the Board of Directors of the consumer cooperative plays a vital role in ensuring continuity and efficiency in decision-making processes. The Board leads the cooperative’s activity during the period between general assemblies and serves as a crucial link between cooperative members, the executive office, and the higher structures of the union it belongs to.

Decisions made by the Board of Directors are mandatory for the executive office and the involved cooperative members, reflecting a commitment to transparent and effective governance.

Key responsibilities of the Board of Directors include:

🔹 Implementing strategic decisions – executing the resolutions of the general assembly and the governing bodies of the union to which the cooperative belongs;

🔹 Planning economic and financial activities – submitting for approval by the general assembly the annual activity program, income and expense accounts, and the cooperative’s financial balance sheet;

🔹 Analyzing and improving performance – periodically reviewing the cooperative’s activity and adopting measures for its enhancement;

🔹 Setting pricing and tariffs policies – establishing and adjusting, within its competence, the purchase and sales prices of goods as well as the tariffs for services provided by cooperative enterprises;

🔹 Promoting staff development – approving and ensuring the implementation of training and professional development programs for personnel;

🔹 Managing cooperative assets and resources – examining issues related to the disposal of cooperative property and presenting related decisions for approval by the general assembly;

🔹 Ensuring organizational discipline – approving membership withdrawal requests, maintaining records of its activities, and deciding on the election or dismissal of the Board’s Chairperson and the Executive Office’s Chairperson.

Thus, the Board of Directors stands as the guarantor of responsible collective leadership, acting in the interests of cooperative members and the local community. Through its work, it contributes to the stability, development, and adaptability of the cooperative system in response to current market and societal demands.