Updated: 09 Aug 2018
Continuing improvement and development of the Board and its committee processes and procedures is key to ensuring that HKEX’s governance structure remains in line with best practices. This can be achieved through Board evaluation which provides a powerful and valuable feedback mechanism for improving Board effectiveness, maximising strengths and highlighting areas for further development.
The Board recognises the value of a formal, structured and rigorous process whereby there is a comprehensive, objective and open assessment of their procedures and effectiveness in providing leadership to HKEX. The evaluation process also clarifies what actions need to be taken to maintain and improve the Board performance, for instance, addressing individual training and development needs of each Director.
Corporate Social Responsibility Committee
is responsible for developing the procedures for a Board (including its committees and individual members) performance evaluation and conducting a Board performance evaluation regularly.
Since 2010, the Board has regularly commissioned a formal and rigorous evaluation of its performance as well as that of the committees and individual members by an external independent consultant to ensure objectivity and impartiality.
The Board will conduct a structured evaluation of the Board performance on a regular basis, and continue reviewing its performance and that of its committees with external facilitation.
The performance evaluation will normally take the form of a detailed questionnaire supplemented by individual interviews with each Director, certain senior executives and HKEX’s regulators. The questionnaire is refined each time as appropriate to focus on the progress made in addressing the key issues raised in the previous evaluation process. The evaluation report will be presented to the Board which will collectively discuss the results and the action plan for improvement, if appropriate.
The results of the Board evaluation, if conducted, are disclosed in the Corporate Governance Report for accountability and transparency purposes.