Board Evaluations – How and Why

Sponsored By Thomson Financial

Topics:

Compliance & Governance > Board Memberships

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Abstract:

In 2004, the New York Stock Exchange adopted new corporate governance rules which require that boards of listed companies conduct annual self evaluations. The purpose of these assessments is to determine how effectively the board and its committees are functioning and to determine if the board is living up to its fiduciary responsibilities to shareholders. Where the NYSE rules fall short, however, is that they do not specify how the evaluation process should take place, the questions that should be asked, or the format for the assessment. In short, it is up to individual boards to formulate their own plan for evaluation. (Note that the Nasdaq Stock Market does not currently require that listed companies conduct a formal evaluation although many companies often chose to do so).

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Released: January 10, 2008

Length: 3 pages

Format: PDF (56 kb)

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