How to Conduct a Director Board Review
When the board conducts a review of directors, it’s important to do it well. Not only should the process be transparent and prompt, but it should help the board to understand what its strengths and weaknesses are so it can improve its performance, and consequently, the performance of the company.
The measurement of the performance of individual directors can be challenging. One person’s contributions to the board learn the facts here now may greatly impact other directors, particularly if the Chair is involved and it can be difficult to determine how a particular board performs with other boards. Variations in strategy, company lifecycles and director refreshment policies make it difficult to draw comparisons.
A director board review can take various forms and the manner the review is conducted will affect how honest the feedback will be. Some evaluations are informal, like asking other directors for their opinions While others are structured, with interviews with fellow directors, SIDs, CEOs, committee chairs, and the Company Secretary. The review can also include observations made by the Chairman during board meetings, which examine aspects like the degree of participation information sharing, the level of inclusion, and discussion sharing.
It is often beneficial to employ an external facilitator who is skilled in conducting these reviews – their neutrality can bring extra discipline and impartiality to the process. The key is to begin the process by defining the goals of the review and defining the scope. The next step is to develop the plan to evaluate the board, and gather information from the stakeholders. This could include distribution of questionnaires as well as interviews, document reviews and/or the use of a software program for managing meetings to make data collection easier.