How should conflicts of interest be managed within the board?

Managing conflicts of interest within the board is crucial for maintaining integrity and trust. The proper approach is to disclose any potential conflicts and ensure that individuals recuse themselves from decision-making processes where their impartiality may be compromised. This practice upholds transparency, allowing the board to operate fairly and prevent any questionable influences on its decisions.

Recusal acts as a safeguard, ensuring that no member with a conflict can sway outcomes that could personally benefit them, thereby preserving the board's credibility and the interests of the organization as a whole. It fosters a culture of accountability and emphasizes the importance of ethical standards in governance.

Promoting open-ended discussions, while valuable for fostering dialogue, does not effectively address conflicts that could lead to biased decisions. Ignoring conflicts or leaving it to the chair's discretion can lead to inconsistent handling of such issues and potential ethical breaches, undermining the board's role and mission. Therefore, the outlined approach of disclosure and recusal is the most appropriate and responsible way to manage conflicts of interest within a board setting.