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Board effectiveness

A formal evaluation of the performance of the Board, its committees and individual directors is carried out annually by means of detailed questionnaires and/or interviews. The most recent evaluation was carried out by Dr Long of Boardroom Review and presented to the Board. For the first time the scope of the evaluation was widened to include the views of senior executives below board level and the Deloitte partner responsible for the audit. The aim is to ensure continuous improvement in the functioning of the Board. Arising from the review carried out in 2008, the Board has agreed to certain changes and ongoing development in the following areas:

  • Strategy planning
  • Communications with major shareholders
  • Talent management and succession planning
  • Committee composition
  • Submission of information to the Board and scheduling of meetings

As in past years, the evaluation process also included a review, chaired by the senior independent non-executive director (without the chairman present), of the performance of the chairman. It is the Board’s current intention to continue to engage an external reviewer for the Board effectiveness evaluation process from time to time.