An effective Board requires an effective chair and a balance of skills, experience and independence allowing each Director to make a valuable contribution.  The Board is committed to achieving a high standard of corporate governance and therefore have developed the annual evaluation process below.

The Board Evaluation process is designed to rigorously test whether the board’s composition, dynamics, operations and structure are effective for the company and its business environment, both in the short- and long-term, by having:
  • A clear purpose and strong leadership by the Chair.
  • The right balance of skills, experience and independence.
  • Directors who work as a team.
  • Excellent understanding of the business and support for the creation and delivery of the strategy of the company.
  • Members who regularly inform and engage with shareholders and other key stakeholders
  • Members who evaluate their performance and act upon the conclusions.
(The key characteristics that boards should ensure they meet as a minimum, QCA Governance Code)

Evaluation Process:
We recognise Leadership is the key in designing and implementing an effective evaluation process, therefore the Board will discuss and agree the evaluation process with the Chairperson.  The process is outlined below:
BAKO’s evaluation process is outlined in the table below.

Criteria
Evaluation process
A clear purpose and strong leadership by the chair.
Board Self- Assessment Questionnaire
The right balance of skills, experience and independence.
Board Skills Matrix
Directors who work as a team.
Board Self- Assessment Questionnaire
Excellent understanding of the business and support for the creation and delivery of the strategy of the company.
Board Self- Assessment Questionnaire
Members who regularly inform and engage with shareholders and other key stakeholders
Board Self- Assessment Questionnaire
Members who evaluate their performance and act upon the conclusions.
Board Self- Assessment Questionnaire

Evaluating the results, Feedback and Action plan:

Once the evaluation process has been completed the results will be shared with the Board, the Board will review the results and collaboratively develop an action plan.  The action plan will be reviewed quarterly as part of the Board agenda and progress will be monitored.
We recognise this is a continuous improvement process and therefore the evaluation process will be carried out annually. The Board is committed to monitoring and evaluating progress to continuously improve Board effectiveness.