Performance assessment of the Board of Directors
In accordance with the KMG Corporate Governance Code, the Board of Directors, Board Committees, and Board members are evaluated annually through a structured process approved by the Board of Directors. The process needs to be in line with the Fund's relevant methodology. In addition, at least once every three years the performance assessment process is run with the involvement of an independent professional organisation.
In 2020, the Board of Directors carried out a self-assessment and in accordance with the KMG Corporate Governance Code, KMG plans to involve an independent professional organisation in the performance assessment process for the Board of Directors, Board committees, and Board members. Therefore, an independent consultant will conduct an independent performance assessment in the first half of 2020. Its results are to be reviewed in depth at a meeting of the Nomination and Remuneration Committee of the Board of Directors.
Independent consultant is solely an external provider of performance assessment services for the Board of Directors and has no other connection with the Company or individual members of the Board of Directors or the Management Board.