High-performing boards rely upon high quality information around which to form decisions. Yet what about information on the board itself? How can investors gain assurance that the board is fit for purpose?
This award recognises those reports that offer insights into the work of the board – the issues it faced during the year, the skills of the people around the table, and how it equips itself with the skills needed for effective strategic delivery. Succession planning, induction and development are clearly evidenced, as is how the tone from the top is cascaded throughout the organisation. Strong nominees may also describe the importance of board refreshment to the company’s strategic purpose, and discuss the process around board evaluation, the outcomes achieved – and the actions taken.
The judges are particularly interested in reports which offer a strong sense of the personality of the chair, which explain how the chair leads the board and demonstrate how he or she takes personal responsibility.