Getting the right Board and Committee structure in place and making sure it works effectively are fundamental to good governance. An effective Board and Committee structure is crucial for an organisation to develop and maintain its position in the market and to enhance stakeholder value. One of the vital ingredients in achieving this is the regular appraisal by a Board of its own performance.
The importance of regular performance evaluation in respect of a Board, its committees and individual members has been a common feature of all the corporate governance reports issued by the King Committee with the latest version, the King IV Report™ on Corporate Governance for South Africa 2016 (King IV Report™), again highlighting as Principle 9, the need for the evaluation process to support continued improvement in the performance and effectiveness of the Board and its structures.
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