HC-1.9 HC-1.9 Evaluation of the Board and Each Committee
HC-1.9.1
At least annually the board must conduct an evaluation of its performance and the performance of each committee and each individual
director .January 2013HC-1.9.2
The evaluation process must include:
(a) Assessing how the board operates, especially in light of Chapter HC-1;(b) Evaluating the performance of each committee in light of its specific purposes and responsibilities, which shall include review of the self-evaluations undertaken by each committee;(c) Reviewing eachdirector's work, his attendance at board and committee meetings, and his constructive involvement in discussions and decision making;(d) Reviewing the board's current composition against its desired composition with a view toward maintaining an appropriate balance of skills and experience and a view toward planned and progressive refreshing of the board; and(e) Recommendations for newdirectors to replace long-standing members or those members whose contribution to the board or its committees (such as the audit committee) is not adequate.January 2013HC-1.9.3
While the evaluation is a responsibility of the entire board, it should be organised and assisted by an internal board committee and, when appropriate, with the help of external experts.
January 2013HC-1.9.4
The board should report to the shareholders, at each annual shareholder meeting, that evaluations have been done and report its findings.
January 2013
