Self-assessment tools for Boards of Directors

“The GC should also evaluate the Board to make sure members properly understand and exercise their fiduciary duties.” This comment from a participant in the Nov. 2005 Third General Counsel Roundtable of the Economist Conferences (at 21) was followed by a suggestion: There are surveys that can help the senior legal officer do the evaluation.

The proceedings refer to Board self-evaluation tools that can help identify areas to strengthen in Board performance. One GC said that her Board members complete a questionnaire on key issues, such as Board strategy, people development, compensation, and committee operations. The general counsel discusses the responses with each Board member and spends additional time on those functions that need additional attention, such as litigation management or compliance reviews.

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