Figure 28 Board eff ectiveness
DEEP BUSINESS KNOWLEDGE
DIVERSITY OF THOUGHT
Importance
Achieving the right balance between executive and non-executive directors
The empowered support of committees that exist for the board
New Board members receiving adequate induction training
A diverse gender and nationality mix on the board
The right balance of skills, knowledge and experience to constructively challenge senior management
Identifying board improvement opportunities
ENGAGED LEADERSHIP
STRATEGIC ALIGNMENT
CAPACITY TO ADAPT
The leadership style of the chairman that encourages excellent team dynamics
A clear vision that is shared by board members
A clear strategy that is understood by each board member
Board membership is regularly reinvigorated to incorporate new ideas / talent
The board’s capacity to consider the acceptance of appropriate risks
The board’s capacity to innovate and adapt
LEADERSHIP TALENT
A comprehensive review of top talent performance and engagement in succession planning
Clear criteria for board member replacement
63% 92% 55% 76% 62% 73% 64% 94% 81% 80% 63% 93% 76% 93% 81% 97% 83% 68% 63% 71% 97% 82% 80% Satisfaction
76% 78%
92% 84% 83%
34 Towards Dynamic Governance 2014 – European Corporate Governance Report
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