WindarPhotonics AnnualReport 2018 All - Flipbook - Page 34
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Principal 7 : Evaluate board
performance based on clear
and relevant objectives,
seeking continuous
improvement
The board should regularly review the effectiveness of its performance
as a unit, as well as that of its committees and the individual directors.
The board performance review may be carried out internally or, ideally,
externally facilitated from time to time. The review should identify
development or mentoring needs of individual directors or the wider
senior management team.
It is healthy for membership of the board to be periodically refreshed.
Succession planning is a vital task for boards. No member of the board
should become indispensable.
A modus operandi for the evaluation of the board is currently under
consideration, but not implemented at the current stage of the
Group’s development, as the Group is still a fairly young and small
business unit.
All directors are subject to re-election by the shareholders by rotation.
The company has not adopted a policy on succession planning.
The Non-executive Directors are, however, required to give notice
under their employment contracts if they wish to leave the company
and the Executive Directors are required to give nine months’ notice.
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Windar Photonics - Annual Report and Accounts 2018