Through the board evaluation process, we regularly check the adequacy of the board of directors in relation to its size, composition and functions.
In conducting the board evaluation, we use the aid of a specialist outside consultant in order to ensure greater impartiality. The procedures for the process are set out in an internal regulation approved by the board of directors. This also enables us to establish a standardised process over the years that produces comparable results.
The process consists of three stages:
The evaluation process in respect of the size, composition and functioning of the board of directors and committees, as required by the supervisory instructions for banks on the subject of corporate governance, was carried out in the period from February to June 2017.
The results of the evaluation showed a positive situation, confirming the effectiveness of the work carried out by the board.
OUTCOME OF 2018 BOARD EVALUATION
The following points in particular emerged:
- The individual and collective composition (in terms of size, capabilities, diversity and number of independent members) and functioning of the Board itself and the committees set up by it were considered to be adequate;
- The flow of information ahead of the meetings, the documentation on risks facing the company and risk controls, and segmentation of budget and closing data by business line, were all held to be satisfactory;
- The debate within the Board itself and the accuracy of the minutes for the meetings were all judged to be effective;
- The Board members were unanimous in their appreciation of the Chairman’s role in terms of leadership, effectiveness in running meetings and stimulating critical and independent discussion within the Board itself;
- There was general satisfaction with the induction sessions arranged and the supporting documentation provided;
- The judgement on the work done by the Board as a whole and by each of its members was also generally satisfactory.
Last update: 31/10/2018