Board Performance Evaluation - performance and effectiveness along with good governance

'The US National Association of Corporate Directors recommended the introduction of formal procedures by which boards would assess both their collective performance and that of individual directors. Some UK boards already have such procedures. We believe that this in an interesting development which boards might usefully consider in the interest of continuous development….’

 

The Review of the Role and Effectiveness of Non Executive Directors … noted that it is ‘best practice that the performance of the board as a whole, of its committees and of its members, is evaluated once a year’ and that ‘Companies should disclose in their annual report whether such a performance evaluation is taking place.’

 

Simon Osborne, FCIS, Director, ICSA Board Performance Unit, prepared an insightful and valuable guide to all boards and directors which will be helpful in the evaluation process.