Every year, the Board of Directors conducts a self-assessment and review of the Executive Management's performance and succession preparedness.
The chairman of the Board has the overall responsibility for conducting the self-assessment of the Board of Directors and review of the Executive Management.
Every third year, the self-assessment and review is facilitated by external consultants who interview all members of the Board of Directors and the Executive Management.
In 2023, the evaluation process, based on a questionnaire, was carried out by an external consultant.
In both 2022 and 2023, the annual self-assessment was less comprehensive than in 2021, but included an assessment of strategy development and implementation, cooperation between the Board of Directors and the Executive Management, Board composition and dynamics, preparation and accomplishment of board meetings, Committee value contribution and evaluation of the chairman.
Overall, the self-assessment revealed good performance by the Board of Directors as well as good cooperation between the Board of Directors and the Executive Management.
The Board found that:
1) the workload for top management has been very high in 2023. A new strategy as an IT consulting service partner has been successfully formed and launched.
2) the closing process of the transaction around carving out the Infrastructure Outsourcing business has been comprehensive and complex.
3) more focus on operational elements like attrition, financial control and risk management is needed. Actions for this are initiated and have good progress and we already see the first early results.
