Case Study .
Board Effectiveness – FTSE 250
A change in Chair and a second new Board member was the catalyst for an external Board effectiveness review which took advantage of the new Corporate Governance Code to establish best practice for the Board. We interviewed the whole Board, the ExBo and other senior leaders as well as the company’s investment bankers and auditors. We also observed two Board meetings and relevant Board sub-committee meetings.
This thorough approach resulted in a series of recommendations to deepen the Board’s connection with the business, engage key stakeholders strategically and ensure the business model was clear and easily communicated to staff. It also helped identify the capability and diversity criteria for a third new Non-Executive Director who subsequently joined the Board. In addition to the review, we advised the Board on a process of continuous improvement and self-evaluation using our Board Effectiveness Framework.
The Chair was pleased with the review process and outcomes which confirmed the Board’s overall approach and further strengthened relationships with the ExBo. The review also proved a useful basis for continuing Board development and we were invited to help the Board review progress one year on.
"It also helped identify the capability and diversity criteria for a third new Non-Executive Director who subsequently joined the Board."