How does a chairman in conjunction with the company secretary assess who best to evaluate the Board?
An option is via the procurement process rather than via the Chair or Company Secretary, usually by tender, where there is no contact and a rigid system/process which requires everyone to mould themselves into. This is usually geared towards low price being a key factor.
Another method requires a proposal to be submitted to the Company Secretary or the Chairman direct, they shortlist and hold meetings in person with about three candidates.
The third option falls in-between options one and two, where there is no face to face meeting and the decision is made from the submitted proposal, usually by a panel of people.
We question whether companies end up with the best result is they have not assessed the personality and technical match by having worked through the paper-only process?
The most beneficial option must be the second one described, where the Chairman has the opportunity to meet and ensure a match between the company and evaluator is assured. Both the Board and evaluator need to work together as a team to deliver optimal outcomes, which are then owned by the Board in order that improvements can be achieved.
