Hong Kong Exchanges and Clearing Limited (HKEx) announced today (Wednesday) the results of an evaluation of its Board and the Board committees*.

Since 2010, the HKEx Board has commissioned an independent evaluation of its performance on an annual basis with the aim of ensuring continuous improvement in the functioning of the Board.  Egon Zehnder International continued to facilitate the evaluation in 2011 so as to follow up with its recommendations made to the Board from the evaluation it facilitated in 2010.  The evaluation focused on the adequacy and efficiency of the practices and procedures of the Board and its committees, their decision-making processes and the performance of the Board, its committees and Directors, with a view towards recommending areas for further improvement.

The evaluation concluded that the Board continues to operate efficiently and is well aligned on HKEx’s overall objectives and towards the organisation’s public purpose.  It also concluded that the Board has shown improvements on oversight of strategy and performance, oversight of people and people processes, and relationships with external stakeholders.  The evaluation revealed that all the committees perform well with a strong composition and the Board as a whole is reasonably ambitious in the goals it sets for itself.

The Board has considered the consultant’s recommendations on areas where it believes further improvements are possible, such as succession planning.

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