The Board and its subcommittees conduct every year a self-evaluation of the Board's and subcommittee’s work, accomplishments and composition.
The Chairman heads the annual evaluation, which is conducted at least every third year by an external consultant. The process, whether it is facilitated internally or by external consultants, evaluates topics such as board dynamics, board agenda, quality of the material that is submitted to the Board, discussions at the Board meetings, the chairman’s leadership of the Board, strategy, Board composition and Board competencies. Typically, the process is further facilitated by each Board member filling out a detailed questionnaire, and the Board members are asked to score to which extent they agree to the individual questions. The results of the questionnaire are then discussed at a subsequent Board meeting, and the individual comments submitted are used in the planning and handling of future Board meetings.
The 2020 self-evaluation was facilitated by an external consultant and, in general, key conclusions were positive with a continued satisfaction with the Board’s work as well as the work in the committees. Organizational development and continued optimization of Board efficiency will also be a focus area in 2021.