The Board of directors is the key element of the corporate governance system, creating additional value for shareholders and ensuring the sustainable development of the company. According to the recommendations of the Corporate Governance Code, the Board should regularly assess its performance through the involvement of an external consultant.
Board assessment helps to:
- Identify the strengths and weaknesses of the Board;
- Determine the extent to which the Board is balanced;
- Evaluate the decision-making process;
- Determine the need to adjust the procedures and working methods of the Board and committees;
- Evaluate the process of interaction between the Board and management;
- Identify areas to optimize the Board’s work;
- Assess the contribution of individual directors to the Board’s work;
- Identify the need to build the competence of Board members.
Ward Howell’s Board assessment focuses on four aspects of effectiveness:
- Purpose – the purpose and priorities of the Board;
- Process – efficient and effective rules and procedures, and legal compliance;
- People – balanced composition and diversity of views;
- President – professionalism of the Chairman and his/her contribution to effective Board interactions.
Based on the assessment results, we develop recommendations and share the best practices of the reference companies and market leaders.
Ward Howell expertise
- Our unique assessment methodology, developed in partnership with the INSEAD Corporate Governance Centre, is fully customized for a specific Board of directors and focuses on four aspects of effectiveness.
- Our daily communication with shareholders and top management, Board members, and Chairmen of major companies allows us to be aware of the trends and best corporate governance practices in Russia and abroad.
- Our consultants are current Board members and Chairmen of Russian and international companies; they have sound knowledge of regulatory requirements and the practical skills required to work effectively for the Board.
- Consultants from our Corporate Governance practice team have conducted more than 10 global studies in partnership with INSEAD Business School, have written scientific papers and business books on corporate governance, and have extensive academic knowledge and comprehension of the topic.
- We strive to ensure that our company, projects, and practices have a positive impact on the future and create sustainable results for both our clients and Ward Howell.