The COMEX, the Shadow Comex (or Millennial Comex), the CODIR, the COMOP… these are just some of the executive bodies a company can have. All acronyms that may sound strange if you’ve never heard of them.
Find out what they mean in this article.
Definitions: COMEX, SHADOW COMEX, CODIR
COMEX
The COMEX, or Executive Committee, assists the company’s CEO and plays a very important role in management. This governing body is formalized by a strategic, weekly, monthly, semiannual, or annual meeting. The COMEX brings together the company’s various C-levels, who are appointed and therefore mandated to join this body. All these players have a specific role to play in the governance of the structure. The purpose of the meetings is to communicate information on the company’s results and the monitoring of activities. It’s also about deciding on new strategies and integrating a shared vision into the company.
SHADOW COMEX / MILLENNIAL COMEX
Working in the shadow of the COMEX, the Shadow Comex, or Millennial Comex, can be described as a ‘phantom’ or ‘junior’ body. In other words, it’s a parallel committee to the Executive Committee. It is made up mainly of employees, including young, dynamic managers, most of whom belong to the Millennial generation. Its role is purely advisory rather than executive. It has no decision-making power, yet its importance remains considerable as it is involved in strategic issues. Like the COMEX, the Shadow Comex has access to sensitive information and takes a critical look at the decisions taken. It is a source of ideas for senior management, particularly on issues of digital transformation, innovation and agility. It is therefore a body not to be neglected, as it can serve as a breeding ground for future COMEX appointments, with a view to managerial innovation and combined with an HR approach to talent retention.
CODIR
We also have the CODIR for Comité de Direction. Its main mission is to ensure that the company runs smoothly. It can include many more members than a COMEX, including executives and managers, which sets it apart. For example, a large company may have dozens of CODIRs and only one (highly selective) COMEX. On the other hand, some smaller companies may have synonymous COMEX/CODIR bodies, made up of the same members.
COMEX, SHADOW COMEX, CODIR: Running Effective Meetings
How is a COMEX meeting organized and what is its role? As a general rule, the COMEX meets at the desired frequency, as decided by the college of members, and in complex or crisis situations requiring urgent intervention by senior management to deal with the issues at hand. Time for reflection is often short, and the decisions to be taken are often highly strategic. It is therefore in the company’s best interests to organize the COMEX meeting in the best possible way. Before the meeting takes place, the agenda is drawn up, and priorities are precisely determined for each project.
Each COMEX member is informed in advance of the topics to be discussed. Having this information at their fingertips enables each member to prepare his or her contribution and think about the agenda. On the day of the meeting, each representative reports on his or her activities. Each member puts forward his or her arguments concerning the issues on the agenda. Guided by the company’s interests, COMEX members reach strategic decisions that need to be implemented.
The COMEX is made up of employees, often of long standing, who occupy key positions in the company’s structural decision-making process. Members include, for example, the CFO, the Sales Director and sometimes the Marketing Director.
An executive board generally comprises the president, vice-president, treasurer and secretary, while the board of directors will comprise a much broader group. The number of members differs, but generally exceeds that of the COMEX. Often with committee chairmen and independent directors.
Made up of roughly ten employees selected for their specialized skills, the Shadow Comex meets in parallel with the classic COMEX. The aim is to address the same agenda.
Finally, the CODIR meets once a month on average. The CODIR is generally less formal than you might think, and its main purpose is to share strategic views on the agenda.
At the end of each meeting, minutes are drawn up and shared with all members by e-mail or by hand (hard copy). This is followed by implementation of the decisions taken, with or without detailed follow-up, depending on the steering system in place.
COMEX, SHADOW COMEX, CODIR: have you thought about digitalization as a performance lever?
COMEX and CODIR bring together the company’s senior management. However, many structures are not sufficiently equipped to be reactive and efficient in all circumstances. This is sometimes reflected in their strategic positioning, which is far removed from the realities of today’s digital world and the consequent dematerialization of certain processes.
The Shadow Comex, with its disruptive approach, enables companies to keep pace with changes in working and management methods and technological advances. This helps to explain why more and more major companies are encouraging these advisory committees of young, agile and digitally-savvy talent.
The AccorHotels initiative is a striking illustration of this trend. Highly publicized in the media, this initiative enabled an advisory board of 12 young executives under the age of 35 (both men and women) to give their views on the upheavals in the hotel industry.
The Shadow Comex can also decide to bring in external partners to propose innovative ideas to the COMEX. The Shadow Comex thus becomes a keystone in the company’s transformation, in the way it conceives its evolution and adopts a forward-looking approach to better reinvent itself and anticipate the future.
DiliTrust, the trusted partner of top management for over 25 years
DiliTrust is the trusted partner of management bodies for better governance. For over 25 years, our team of experts has been supporting members of Boards of Directors, Executive Committees and all other types of governance and management bodies. Our experts listen to their needs and offer secure, contemporary governance solutions for flexible, mobile, agile and secure management of meetings and bodies. The digitization of bodies is a service we provide to our customers who wish to strengthen their performance, demonstrate resilience and demonstrate the value of their work.
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