Each year, Leadership Advisor Group conducts comprehensive desk research to understand how companies communicate the procedures and outcomes of their annual board evaluations. Transparent reporting in this area not only signals good governance but also strengthens stakeholder trust. However, guidelines for such disclosures vary significantly across countries.
In Norway, for example, the guidelines recommend that companies publicly state whether or not a board evaluation has been conducted. However, the detailed results of the evaluation are generally shared only with the Nomination Committee. In contrast, the United Kingdom encourages much more extensive public reporting. UK companies are expected to describe how the evaluation was carried out, identify any external evaluator used, and disclose the nature and extent of the evaluator’s interaction with the board and individual directors. This ensures both objectivity and independence. In addition, UK companies should confirm that the same consultant has not provided overlapping services—such as board evaluations, executive or non-executive search, or auditing—to the same client within the same year. Crucially, companies should also share the key outcomes of the evaluation, outline any follow-up actions, and explain how the findings will influence the composition of the board going forward.
To support companies striving to meet best-in-class standards in this area, we highlight two strong examples of effective reporting—one from Denmark and one from the international arena. These offer practical inspiration for elevating transparency and accountability.
ISS (Denmark)
ISS: Annual Report 2024, page 43
Entain Plc (UK)
Entain Plc Annual Report 2024, page 103
Based on international best practices, Leadership Advisor Group recommends that all listed companies—and any company aspiring to top-tier governance—should, at a minimum, report on both the evaluation process and its conclusions. The process should describe the key elements included in the assessment, while the conclusions should outline both the strengths identified and the areas for development. This information should be clearly communicated in the company’s annual report, published on the corporate website, and presented at the annual general meeting.
If you would like our support in enhancing the quality and impact of your board evaluation reporting, please feel free to contact us at reception@leadershipadvisorgroup.com
Interested in self-evaluation? Try Online Board Evaluations
Well-aligned with national corporate and foundation/charity governance codes, our board clients usually conduct an external board evaluation every three years. However, most national governance codes recommend that boards perform a self-evaluation in the years between external board evaluations. Therefore, we have developed OnlineBoardEvaluations.com, a tool enabling boards to self-evaluate effectively and effortlessly every year.
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