Lloyd's - Principle - Balance of executive and non-executive directors
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Lloyd's Market
Performance management framework
Franchise Standards
Governance
Principle - An effective board
Principle - Clear division of responsibilities
Principle - Balance of executive and non-executive directors
Principle - Board appointments
Principle - Information supplied to the board
Principle - Board to evaluate its own performance
Principle - Balance of executive and non-executive directors
The board should include a balance of executive and non-executive directors (and in particular independent non-executive directors) such that no individual or small group of individuals can dominate the board’s decision taking.
Standards
The board should not be so large as to be unwieldy. The board should be of sufficient size that the balance of skills and experience is appropriate for the requirements of the business and that changes to the board’s composition can be managed without undue disruption.
To ensure that power and information are not concentrated in one or two individuals, there should be a strong presence on the board of both executive and non-executive directors.
Last updated on 12 Jun 2008
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