THE IMPORTANCE OF INDEPENDENT, EXTERNAL BOARD EVALUATIONS
While the UK Corporate Governance Code applies to the business world, its guidance is followed more widely. Provision 21 of the Code states that ' There should be a formal and rigorous annual evaluation of the performance of the board, its committees, the chair and individual directors. The chair should consider having a regular externally-facilitated board evaluation ... at least every three years.'
Seamus Gillen wrote the original Financial Reporting Council good-practice Guidance on Board Effectiveness, a document referenced extensively in the UK and internationally. He has taken the thinking set out in the Guidance and, using his experience working with boards and directors in a variety of sectors, developed a methodology for structuring a robust board evaluation process. One recent evaluation (Spring 2018) led to the following feedback - 'We engaged Value Alpha to carry out an independent board evaluation. What we got was a board evaluation completed with such diligence, thought, intelligence, tenacity and rigour that the recommendations of the review added insight and challenge to future recruitment, strategic direction and process. I simply cannot recommend Seamus and Value Alpha highly enough. If you want an objective, pragmatic and strategic brain to challenge and add huge value to your organisation, then choose Value Alpha'. If you would like to know more about the Value Alpha approach to board evaluation, please contact me on +44 (0) 7739 088208 or at firstname.lastname@example.org.