Nestor Advisors has submitted its response to the ICSA consultation into the effectiveness of independent board evaluation in the UK listed sector. The review is being carried out at the request of the Department of Business, Energy and Industrial Strategy, and will assess the quality of and ways to improve board evaluations.
Simon Osborne, chief executive of ICSA says: “Board evaluation, when done properly, can help companies to identify skills gaps or behaviours which might have a negative impact on the effectiveness of that board. Not all companies are currently embracing good practice in seeking to deal with issues identified in evaluations, however. What is more, the standard of evaluations can vary considerably. The consultation seeks, therefore, to identify ways of improving the quality and effectiveness of board evaluations, including the potential development of a code of practice for external board evaluation.”
The consultation closed on 5 July 2019.