Going through the process of Board evaluation, whether with an external facilitator or purely using internal resources is only useful if the conclusions are followed-up and any recommendations or necessary actions followed through. In practice this may mean altering the Board to include:
- More or less independent directors
- Changing the senior independent director
- More industry experience/training
- Setting clearer goals
- More rigorous reporting from Board committees
- Changes in Board agendas
- Working on Board member performance or contribution issues
- Removing a Board member
Sometimes this may be easily facilitated by the Chairman, but at other times external input is invaluable, particularly to:
- Identify how structures can be changed
- Set up reporting protocols
- Improve Board member performance
- Provide Industry knowledge training
Occasionally the issues are with the chairman so support can be provided to the senior independent director in this delicate matter.
CTP Global specialises in financial services board evaluations. Our background is financial services and regulation and that's our expertise. CTP will discuss your requirements with you in confidence. Contact us now...
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