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.
Corporate executives are generally familiar with these terms. This article sheds light on each of them, recalling their contours and objectives, and goes further to give you tips for running effective executive committees.
Have you ever considered using project management software to facilitate the organization of your committees? appvizer has selected online software to centralize information, structure, simplify and secure your COMEX.
Definition of COMEX
The Wiktionary defines the COMEX, or executive committee, as the
committee assisting the General Manager.
This is a management body that takes the form of a strategic meeting. Its frequency varies according to the size of the company: weekly, monthly, half-yearly or annually.
Who attends?
The COMEX brings together only the company's most senior executives, the directors who are closest to general management, such as the sales or marketing director.
What is the role of the COMEX?
The COMEX fulfills several 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 September 1, 2016, Total's Executive Committee has had seven members reporting to the Chairman and CEO:
- Patrick Pouyanné, Chairman and CEO,
- 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 authorizes the corresponding investments.
Shadow Comex: what is it?
You may have come across the term " shadow comex". What is it?
It's a parallel committee to a company's executive committee. It is usually made up of young executives. Its role is consultative; it has no decision-making power.
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 COMEX, including sensitive data,
- to enlighten senior management on new challenges, particularly those related to digital transformation,
- give rise to new projects, whether for internal company processes, or to expand product and service offerings.
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's decision-making and strategic vision.
⚠️ Warnings:
- Be careful not to turn it into a marketing argument and communicate on it (too much): you'll lose the "shadow" aspect, and your employees may take a dim view of it;
- Be careful not to create a generation gap 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 COMEX
Difficult decisions to be made, little time to think about them and make them... How can we establish constructive exchanges so that they are productive during the COMEX?
Define an agenda and priorities
This may seem obvious, but it's the first thing to do: give committee members plenty of advance notice and let them know what subjects will be discussed as early as possible. Anticipate sufficiently so that they have some time to prepare and familiarize 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 we're all moving in the same direction. If you're not talking about exactly the same thing, it will be complicated to move forward and reach a decision. This is all the more true if you have a tight deadline to reach a decision.
Gain global visibility
The COMEX is the moment when all departments are represented, and the opportunity to take stock of each department's activity. It provides a 360° view of the company's performance, made possible by the analysis of KPIs (key performance indicators) for each department.
Centralize necessary documents with EDM
Ensuring access to documents for all participants is essential. Taking minutes, for example, enables the information exchanged to 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. Their distinction depends on the company's size and culture.
A CODIR, or Management Committee, is responsible for overseeing the smooth running of a company. It can comprise up to several hundred people, far 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, with the same members.
Other corporate 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.
Operational committee (COMOP)
This committee brings together managers to make both organizational and operational decisions.
The two notions can be confused in small companies.
Women on executive committees
Women are increasingly present on the boards of major corporations. And with good reason: since January 1, 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 major companies even boast a proportion of women in excess of 50%; this is the case for Engie (56.2%), Icade or Vivendi (54.5%), for example.
But the picture isn't quite as rosy when it comes to COMEX. CODIR and COMEX are not subject to any legal obligation concerning the proportion of women in these management bodies.
In 2018, the executive committees of France's 120 largest companies (SBF 120) included just 15.3% women.
This figure is certainly on the rise, but the growth is in no way comparable to that of the presence of women on boards of directors.
Focus on z0 Gravity
The z0 Gravity solution is designed for companies in all sectors, from SMEs to major CAC40 groups.
This project management and PPM software facilitates project management 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, trades and divisions, in a collaborative, secure and personalized solution.
Article translated from French