The Center for Board Excellence has a policy of STRICT ANONYMITY AND CONFIDENTIALITY. The focus of CBE’s evaluation processes is on overall board performance and, in the case of a director peer evaluation, the abilities and limitations of individual board members. Our surveys emphasize improving performance of individual members of the board, thereby strengthening the overall dynamic of the directors as a group, all to the benefit of the company and its shareholders.
The Center for Board Excellence has a strict policy of re-evaluating all board reports for retention within six months of their preparation. Records of evaluations older than three months will not be retained. Therefore, preparation and retention of board minutes reflecting that a third party board evaluation firm was engaged is absolutely recommended as a “best practice” for all boards. In addition, minutes should reflect self-assessment results and recommendations, noting areas of strength, items requiring more diligence or attention and how that will be achieved.
It is always wise to solicit the advice of your company’s in-house counsel regarding how the results of an assessment will be presented in order to consider issues of privilege and any other risks that may be associated with the self-assessment process. CBE will work closely with your counsel through the entire evaluation process.
Boards Struggle With CEO Evaluations
Even with years of experience and a boardroom filled with the finest minds in an industry, it can still be tough for...
Phil Neiwsender is a member of CBE's Board of Directors
(PRWEB) April 23, 2013