Board evaluation - more can be done
The main challenge is the perceived difficulty of having a rigorous process. By YVONNE GOH
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IN the corporate world, it has long been the norm to have procedures for regular appraisal or evaluation of both staff and departments at various levels throughout the organisation.
It is only logical that the board of directors - being the highest governing body of a company which controls major resources, both financial and human - should also be subjected to a regular evaluation process.
The Singapore Code of Corporate Governance states that: "There should be a formal annual assessment of the effectiveness of the board as a whole and its board committees and the contribution by each director to the effectiveness of the board."
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