Board Nominations Committee
The Board Nominations Committee (with delegated authority from the Board) shall:
- Be responsible for identifying and nominating for the approval of the Board, candidates to fill Board vacancies as and when they arise.
- Before making an appointment, evaluate the balance of skills, knowledge and experience on the Board and, in the light of this evaluation, prepare a description of the role and capabilities required for a particular appointment.
- Consider candidates from a wide range of backgrounds and look beyond the usual suspects.
- Give full consideration to succession planning in the course of its work, taking into account the challenges and opportunities facing the Group and what skills and expertise are therefore required on the Board in the future.
- Regularly review the structure, size and composition (including the skills, knowledge and experience) of the Board and make recommendations to the Board with regard to any changes.
- Keep under review the leadership needs of the organisation, both Executive and Non-Executive, with a view to ensuring the continued ability of the Group to compete effectively in its marketplace.
- Make a statement in its Annual Report and Accounts about its activities; the process used for appointments and explain if external advice or open advertising has or has not been used; the membership of the Committee, number of Committee meetings and attendance over the course of the year.
- Make available Terms of Reference on request by members and publish them on the Society’s website.
- Ensure that, on appointment to the Board, Non-Executive Directors receive a formal letter of appointment, setting out clearly what is expected of them in terms of time commitment, Committee service and involvement outside Board meetings.
- Make appropriate recommendations to the Board arising from its considerations of the above Terms of Reference.