Board Self-Evaluations: Factoring 2020 Into the Equation
The calendar says it’s 2021, but the distressing events in Washington last week suggest that the 2020 dumpster fire continues to rage on unabated. A Bryan Cave blog says that as much as we’d all like to put 2020 in the rear-view mirror, boards should factor the year’s lessons into the topics they discuss during upcoming board evaluations. Here are some suggested supplemental discussion topics prepared with the annus horribilis in mind:
– All board members have sufficient technology capabilities, IT infrastructure and cybersecurity protections to effectively access board materials, prepare for and participate in board meetings in the virtual environment.
– Board members pay sufficient attention to environmental and social consequences and potential risks resulting from the company’s activities.
– Board members are able to clearly and effectively communicate with each other and with management in the virtual environment, enabling them to fulfill their responsibilities and make rapid and significant decisions during the COVID-19 pandemic.
– All board members, regardless of their gender, race or ethnicity, feel that their voices are heard and their contributions are respected and valued.
The blog suggests several additional topics for consideration in the self-evaluation process. It says that expanding the process to cover these topics will assist boards in learning from the events of 2020 & in taking appropriate actions to adapt to the pandemic and address the other areas of heightened investor concern that arose last year.
-John Jenkins, TheCorporateCounsel.net January 12, 2021
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