If board evaluation are mechanisms to inform continuous improvement, they can only be a good thing? So why the reluctance?
Why is it that there is reluctance by many very experienced and very capable chairs to engage in Board Evaluations either internal or external. The FRC UK Corporate Governance Code (April 2016) states in provision B.6.2. that evaluation of the board of FTSE 350 companies should be externally facilitated at least every three years. And the Proposed Revisions to the UK Corporate Governance Code, Appendix B - Revised Guidance on Board Effectiveness, includes more detailed and robust provisions.
The proposed new Code identifies the need for boards to ‘continually monitor and improve their performance’. And if it is broadly considered best practice that teams in organisation undertake performance reviews and setting of objectives, why not the board.
It also identifies that an evaluation ‘provides a powerful and valuable feedback mechanism for improving board effectiveness, maximising strengths and highlighting areas for further development’. And many chairs ask how else would they receive feedback, to inform their own personal development, other than through a board evaluation.
At this event we will be joined by members of the Board Services team from Alumni (a Harvey Nash Group company) to explore these issues, along with compelling views from the Investor community - Daniel Jarman at BMO Global Asset Management and a company's point of view from Dick Steele, Chairman of Portmeirion Group PLC to share his experiences good and bad of conducting board evaluations.
Our aim is to explore the reluctance to engage in board evaluations, expose the threats and opportunities and share best practice.
Date: Tuesday 24 April 2018
Time: 8am for 8:30am start
Location: Blake Morgan's offices, London
This breakfast briefing is free to attend. To book your place, please click on the 'book now' below.
The event is restricted to 20 people in order to provide all attending the opportunity to ask questions.
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