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Principle 7: The GB should comprise the appropriate balance of knowledge,…
Principle 7: The GB should comprise the appropriate balance of knowledge, skills, experience, diversity and independence
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Composition of the GB
At least two executive directors. One must be the CEO, and the other may be the CFO, or another executive director as is appropriate for the organisation.
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Comprise of a majority of non-executive members, most of whom should be independent.
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Number of members on the board?
Consider the following:
Mix of knowledge, skills and experience.
Mix of executive, non-executive and independent non-executive members.
The need for a sufficient number of members that qualify to serve on the committees of the GB.
Secure a quorum at meetings.
Diversity targets relating to the composition of the GB.
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Balance of knowledge, skills, experience, diversity and independence.
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