Board effectiveness reviews – three actions that can make your assessments more impactful
The 2017 PWC Annual Corporate Directors Survey reported that, “46% of Board members think at least one existing Director needs to be replaced and 21% say two Directors need to be replaced.” How can this be the case, considering the attention focused on enhancing director selection and board evaluation processes in recent years?
Based on my evaluation and observation of boards, the self-assessment and third-party reviews need to be more robust. They need to more specifically and quantitatively measure director behaviours.
Many ICAEW members are in roles which involve board level engagement. Members may be non-executive directors, executive directors (CEOs, CFOs, etc), they may provide information and/or present to the board on specific topics, or they may be a company secretary.