The Board evaluation includes all members of the Board of Directors
and Executive Management. The chair of the Board has the overall
responsibility for the Board evaluation in collaboration with the
Nomination Committee. Every third year, the evaluation is facilitated
by external consultants, who interview all Board members and
executives. For the subsequent two years, the evaluation is
facilitated by the secretary of the Nomination Committee based on
written questionnaires. The evaluation includes topics such as Board
performance, effectiveness, composition and succession, performance of
the Chairmanship and the Board committees as well as the collaboration
between the Board and Executive Management. Each Board member and
executive also receives feedback from all other Board members and
executives on their individual performance.
In 2020, the Board evaluation was facilitated externally by a
consultant working exclusively with Board effectiveness reviews.
Overall, the evaluation revealed good performance by the Board and
good collaboration between the Board and Executive Management. The
evaluation resulted in continued focus on Board culture, evolving the
induction for new Board members, Board documentation and
presentations, Board competency profile and informal time between the
Board members which has been affected by COVID-19.