Board Appraisal and Assessment

Woodburn Mann has developed a state of the art Board Appraisal model to evaluate and assess the main influences which impact on a Board’s high-level management of the business, whilst ensuring the overall strategic and economic visions remain aligned.

The Woodburn Mann Board Assessment model adopts a holistic approach to each component of a Board’s activity ensuring that focus is placed where needed. Governance issues, although important, are not the critical area of focus.

The philosophy employed in the assessment of the Board focuses on performance and dynamics, the appraisal of all Board Directors and, most importantly, on Board and Committee Composition. The process is consultative, pragmatic and confidential.

Board Assessment Methodology Employed

We utilise three distinct methodologies for the overall appraisal of a Board of Directors. These methodologies include specific sub-methodologies. The three main methodologies used are:

(a) Board Composition Model and Gap Analysis identifies deficiencies and gaps in the Board’s composition and determines remedial actions for the orchestration of an effectively functioning Board. This is developed from the organisation’s defined strategy and committed strategic direction.

(b) Board Performance and Individual Formal Appraisal of Board Members using the following sub-methodologies:

• “Tool Box” review exercise which determines the specific attributes which each Director contributes to the Board
• Performance appraisal questionnaires which determine the performance of the Chairman, Chief Executive and all other Directors at Board meetings

(c) King IV Corporate Governance Review which determines compliance with the beliefs of the report’s recommendations. The appropriate Board and Committee Charters are revised and compliance determined, where required. This is extended to the suitable corporate governance frameworks applicable in particular jurisdictions.

Board Report Deliverable

Conclusions are drawn utilising various instruments and recommendations made on the optimum board size, composition and desired profiles of the members. Each Director’s performance is evaluated and, where required, corrective or developmental interventions are suggested. Compliance with the various facets of the King IV report is measured and remedial actions recommended.

The findings would be collated and analysed under appropriate headings and formally reported on, without attributing any remarks or comments to any particular individual. In addition, an overall reflection of the perceived performance of the Chairperson and Chief Executive Officer and all other Executive and Non-Executive Board members would be provided. The Board Report Deliverable is an excellent working document to use as a basis for future Board and Committee recruitment and succession.