The NRC is responsible to assist the Board to assess the effectiveness of individual Directors, the Board and the Board committees. The Board effectiveness evaluation is performed annually with the objective to enhance its effectiveness, strength and to identify areas that need improvement.
The assessment is divided into four (4) sections as follows:
- Board and Board Committees Evaluation
- Assessment of Character, Experience, Integrity, Competence and Time Commitment
- Assessment on Mix of Skill and Experience
- Evaluation of Level of Independence of a Director
The main criteria set out in the abovementioned sections are as follows:
- Skills and experience of individual directors.
- Roles and responsibilities of the Board and individual directors.
- Time commitment in deliberation and participation in the Board and Board committee’s meetings.
- The level of independency for the Independent Directors’ participation and deliberation on issues put before the Board.
During the financial year ended 30 June 2017, the effectiveness evaluation was conducted on the Board, Board Committees and individual Directors.