The UK Corporate Governance Code requires that listed companies include in their annual report a variety of information about their board performance review – not just how it was conducted and by whom, but also what the outcomes were.
This award recognises high quality disclosure on a board review. Strong reports in this category will offer clear insights into the approach taken to reviewing the board and why that approach was the most appropriate for the company. They will include a discussion of who carried out the review, the brief they were given and how they were chosen to undertake the work. They will also offer meaningful discussion on what the company learned from the performance review, and how it followed up that learning and put it into practice.
The judges in this category are particularly interested in those reports which go significantly beyond the basics to provide genuine insights into the process of board evaluation, and are unafraid to describe its consequences.