Board evaluation

The board undertook its second performance evaluation during the last quarter of 2020. As previously, this was an internal evaluation drawing on material purchased from a professional adviser. Each director was asked to complete the questionnaires for the Group bodies of which they were a member. Separate questionnaires were distributed and completed by the:

  • whole board;
  • audit committee;
  • remuneration committee;
  • non-executive directors.

The results of these questionnaires were analysed by the company secretary. As the questionnaires replicated the first evaluation, progress against focus areas previously identified could be assessed.  Whilst no category covered in the questionnaires returned a low score, the board assessed its best performing area to be the conduct of its board meetings and its work on strategy, whereas feedback indicated a case for reviewing the role and responsibilities of the remuneration committee. The full board discussed the outcome of the evaluation and agreed some actions in response to it, including: recommending more detailed work on risk by the board as a whole; a review of the terms of reference of the remuneration committee; and succession planning.