Module B will build upon the final section of Module A and will look in more depth the supervisory board’s composition, dynamics, and effectiveness.
Participants will be taken through all of the key aspects when considering how to ensure a supervisory board has an effective composition, including:
- Its size;
- How to define and analyse its collective knowledge, skills, and experience (including through the use of a target skills matrix);
- The role and definition of independent directors;
- The benefits of board diversity and related requirements;
- The time commitment required of board members;
- The role of the nomination committee; and
- How to structure the nomination process.
Comparisons will be drawn between local practices in Croatia with the practices of boards in selected other markets.
The session will also help to build an understanding of what effective dynamics and functioning of a supervisory board look like, as well as how boards can enhance their effectiveness. There will be a focus on the role and effectiveness of the supervisory board’s Chair in driving this, including particularly in ensuring that board members can constructively challenge management and proposal before them and that the board’s discussions are active and constructive.
The module will look at how to assess if a supervisory board is successful in fulfilling its key roles and responsibilities and if it is having a noticeable impact on the company’s performance. The self/external board evaluation process will be outlined as will best practice expectations.