Evaluation of Board Members
The fact that the Board of Directors is the guarantor that the strategic decisions made in the company are objective, it forces the companies to be very careful and demanding when evaluating the profile of the directors that form part of the Board and of its committees, since their experience, their capacity and their professional reputation will be critical for their value contribution in the different topics to be handled.
In listed companies, the Corporate Enterprises Act and the new Code of Good Governance of listed companies (CBG) of January 2015, have entailed the reinforcement of the Board's responsibilities and its role in the governance of the companies. The limitation to 12 years of the mandate of a board member to be considered independent, the requirement of expert profiles to lead the Audit Committee or the recommendation to have 30% of women board members in 2020, are some of the innovations that are influencing the composition of the Boards and, therefore, in the evolution of the large Spanish companies.
Likewise, the growing interest in aspects such as long-term sustainability, talent management, environment, innovation, diversity, digital transformation, cybersecurity ... are forcing companies to review and integrate new competencies.
In this environment of greater transparency, the demand grows for professionals who are committed and capable of questioning the proposals made by management, providing strategic vision, and experience in risks and new technologies.
In Recarte & Fontenla, we carry out services for evaluating board members, with the objectivity and neutrality necessary to guarantee regulatory compliance and the alignment of each one of the board members with their areas of activity.