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independent board evaluation

"The Board was delighted with the output and we asked Fletcher Jones to present at our most recent board meeting. We were very appreciative of their empathy, experience and recommendations..."

Mark Pacitti, Chair,
Smithson Investment Trust Plc

The UK Governance Code, which many organisations regard as the ‘gold standard’ for governance points to the importance of “formal and rigorous annual evaluation of the performance of the Board, its committees, the Chair, and individual directors.”

A good practice highlighted is to have periodic regular externally facilitated Board Evaluations. For our clients with a FTSE 350 or above listing, the Guidance suggests should happen at least every three years.

The Guidance also points to the importance of Board Evaluations in informing and influencing succession planning. Such Evaluations should be both thorough and rigorous and they “should explore how effective the Board is as a unit, as well as the quality of the contributions made by individual directors”. The result is to provide an opportunity for boards to review skills, assess their composition, and to agree plans for filling skills gaps and increasing diversity. They can help companies identify when new board appointments may be needed and the types of skills that are required to maximise board effectiveness.

To be of most value and relevance to you, the Board Evaluation we undertake is tailored to the specific environment and operating style, as well as strategic goals and challenges faced by your Board. These would be ascertained from a confidential survey of all Board members and would consider themes such as:

  • The competence and performance of the Board
  • Overall strategic and corporate issues
  • Shareholder value
  • Governance
  • Process and style
  • Contribution made to Board committees
  • Appraisal of the Chair and the Chairs of Board Committees

We conduct private, individual conversations with all Board members and relevant stakeholders. We also include a confidential observation of a Board meeting, if desired, in order to provide a complete picture.

"We engaged Fletcher Jones to help find an experienced NED to join our Board. We hadn't worked with them before but, as anticipated, they added value from the outset as we worked together to develop our initial role profile...."
Martin Moore, Chair, BMO Commercial Property Trust Read in full

"Fletcher Jones comprehended the brief and put forward some good candidates, along with some recommended by board members.  They interviewed all the candidates and gave us a detailed background on them and their skills..."
Jean Matterson, Chair, Capital Gearing Trust Read in full

"Fletcher Jones did an excellent job for us. They were efficient and highly professional. We tasked them with finding a director with experience of Asia and its equity markets but one who would also add to the Boards diversity of thinking...." 
Peter Rigg, Chair, Schroder Oriental Income Fund Trust Read in full

"The process was held online throughout with good input from the team at Fletcher Jones to allow us to make the appointment of an excellent director to our Board. We are delighted with the experience and the outcome."
Raymond Abbott, Chair, Foresight 4 VCT Read in full

“In seeking such an individual, the Board was also keen to, as a FTSE 250 company, not only broaden the range of views around the Board table but do so in a manner that was seen by the market to improve the diversity of the Board.”
Chris Samuel, Chair, JPMorgan Japanese Investment Trust Read in full

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