Velo Valero Board of Directors
The Velo Valero team is managed by a Board of Directors, which operates as follows:
- The management of the affairs and activities of the team shall be in the hands of the Board of Directors (the “Board”), and, at least two-thirds of Board shall consist of Valero Employees.
- Each Board member shall serve a term of two (2) years.
- A majority of the Board shall consist of a quorum for the transaction of business. All actions of the Board shall be by simple majority vote of those present.
- Regular meetings of the Board shall be held approximately ten (10) times per year, at a time and place specified by the team captain. Special meetings may be called by any member of the Board by notifying via email all other members of the Board at least two (2) business days prior to the day of the meeting. The time and place of regular and special meetings of the Board shall be published via email and posted on the team website.
- All meetings of the Board shall be open to the members of the team; provided, however, that at any particular Board meeting, the Board members may elect to have an executive session, which shall be closed to all team members other than Board members.
- The Board shall have the authority to make rules and regulations for carrying out procedures established by these Bylaws.
- The Board may authorize any officer or officers to enter into any contract or to execute and deliver any instrument in the name of and on behalf of the team, and such authority may be general or confined to specific instances.