UK online banking UK online banking Contact Us News About us Investor Relations Citizenship Careers Products and services Corporate governance Board performance Share Email Print Each year, the Board undertakes an effectiveness review, to assess its performance. Our review is a formal, rigorous process that has been facilitated externally since 2004. Evaluation Statement A summary of the Board’s progress against the actions arising from its 2013 Board Effectiveness Review can be found below. This is described in more detailed within the 2014 Annual Report. Theme Action taken Board Priorities To better articulate the Board’s 2014 priorities, as opposed to the business priorities and reflect these in Board and Committee papers As a result of Bvalco’s interviews with the Directors and discussion at the Board meeting in February 2014, the Board identified the following priorities for 2014: - Board and Chairman succession - Supporting the Executives - Oversight and working through legacy issues - Dealing more strategically with global regulation - Exhibiting and upholding Barclays’ Values These priorities were reflected in Board and Board Committee agendas during the year and were also debated at the Committee meeting in July 2014. Exhibiting and upholding the Company’s values To be kept directly informed on the progress of implementing cultural change The majority of non-executive Directors have attended Barclays’ Values training and the subject of values and how we do business has been covered in the Chief Executive’s reports to the Board and in business presentations. The Board Conduct, Operational and Reputational Risk Committee examined reports on progress being made in implementing cultural change. Leveraging Board experience in support of executives To create additional time for more wide-ranging strategic discussions between the Board and Executive Committee members The Board met with executives outside of scheduled Board meetings to discuss and challenge the Group strategy during 2014, culminating in significant interaction with Group Executive Committee members when debating proposals relating to the strategy update which was announced in May 2014. The Chairman and Company Secretary gave a presentation to the Group Executive Committee on the composition, duties, role and expectations of the Board. The Board invited leaders of key businesses and functions to Board dinners to probe business strategies, plans, emerging issues and concerns. Greater awareness of Board Committee work To give more time, on a rolling basis, to Board Committee reporting to the Board, to allow all Directors to gain a deeper understanding of the workings of each Board Committee and their forward agendas The Board has allowed more time to focus on reports from Board Committees. This included the forward agenda and key issues examined to allow the Board to consult and challenge the work conducted by the Committee. The Committee Chairs ensured that they identified the key issues for discussion. Improvements to the Board appointment process To ensure that all Board members are kept fully informed of prospective candidates and potential appointments A number of Board appointments were made in 2014 taking the new approach: Steve Thieke brings additional investment management and risk expertise to the Board, Crawford Gillies will succeed Sir John Sunderland as Chairman of the Board Remuneration Committee, and John McFarlane will succeed Sir David Walker as Chairman. The Board was kept regularly informed of the progress of non-executive Director searches, and the Chairman, Chief Executive Officer and members of the Committee interviewed shortlisted candidates. The Board Corporate Governance and Nominations Committee has also assessed Group Executive Committee succession plans. Director induction To improve the on-boarding process for new Directors, including partnering new Directors, if appropriate, with longer-serving Board members New Directors were offered the opportunity to partner with an existing Director as part of their induction programmes. Following completion of the programmes, we sought feedback from the new Directors and a number of suggestions, including the preparation of capital and liquidity briefing papers were taken forward. We asked Directors for their views on potential topics for training for the Board as a whole. We also asked Board Committee members for suggestions for Committee specific training, which were reflected in the 2014 programme. Effective handling of legacy issues To assess and work through legacy issues, including responses to the Salz Report The Regulatory Investigations Committee has provided oversight of the resolution of historical legal and regulatory risks and there have been regular reports to the Board. The Board Audit Committee and the Board discussed PPI provisioning at length and agreed additional provisions. All of the Salz recommendations were complete by the end of 2014, but require some further embedding, with the Board regularly updated on progress. Dealing more strategically with global regulation To increase engagement and to deepen the relationship with the Group’s regulators Representatives from the PRA, FCA and FRBNY have all attended meetings and presented to the Board during 2014 and the Board has been fully engaged on meeting regulatory expectations. The Board was also regularly briefed on the structural reform agenda in both the UK and the US. 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