KUALA LUMPUR: The practice of evaluating board effectiveness has gained recognition in Malaysia.
In its latest report, entitled “Board Evaluation – Mutual Admiration or Thoughtful Reflection?”, released today, KPMG explores the thinking, approaches and practices associated with board evaluation in Malaysia. “It was also noted that 82% of independent directors in the companies have not exceeded the nine-year tenure yardstick. This is aligned with the notion that long tenures of independent directors and familiarity may erode the board’s objectivity,” it said.
In the same sense that an effective board evaluation can benefit the company, the opposite can also be inferred when a board evaluation is not properly conducted. “In an age where directors are constantly challenged to raise their game, many enlightened companies have come to realise that the board evaluation is an opportunity to understand the pathology of the board and board committees.Together with the release of their report, KPMG announced that they are currently developing a Board Effectiveness Evaluation Software powered by analytics to automate the manual processes involved in a board evaluation exercise.
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