Actually, it isn't.

The first is:

* Acknowledging that too many meetings are ineffective

* Suggesting reducing the number of inneffective meetings

* Saying there needs to be clearer, independent direction

The second is:

* Stating that there are not too many meetings in general (the first says nothing about this)

* Acknowledging that too many meetings are ineffective (same as bullet 1 of the first sentence)

* Not suggesting how to address either problem

I agree with GP. There is no meaningful distinction between the 2, but the first suggests 2 ways to solve the problem of ineffective meetings whereas the second simply acknowledges the existing of problems.