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A formal Board effectiveness review is conducted on an annual basis. This includes an assessment of the Board, its Committees and individual Directors.

FY20

External Evaluation by Lintstock

FY21

Internal Evaluation

FY22

Internal Evaluation

FY21 Evaluation Process

Step One

Issued online surveys and cross-surveys to the Board members.

Step Two

Received and analysed the feedback with the Chair of the Board. The Chair then produced a note of action points to be addressed, which was circulated to the Board members.

Step Three

The Chair of each Board Committee received the evaluation report in relation to their Committee, and time was arranged to consider the findings and agree an action plan.

Step Four

Implementation and monitoring of the action plans.

FY21 findings

The findings identified by the FY21 internal review are as follows:

Topic FY21 outcomes
Board composition To ensure the Board has the right mix of skills, diversity and experience going forward.
Stakeholder oversight

To have more insight over suppliers and employee voice.

Succession and talent management To ensure appropriate succession planning for Board and senior management.

FY20 findings

The findings identified by the FY20 external review were as follows:

Topic FY20 Outcomes Progress Made in FY21
Strategic plan The Board mentioned that continued delivery and clear reporting of the progress against the delivery plan is essential throughout the year. The Board was pleased to note that the strategy outlined previously is regarded as correct and appropriate for the Company both in terms of longer-term aspiration and dealing with the COVID-19 pandemic. The Company has focused particularly on One Halfords Family (keeping colleagues and customers safe), and costs and efficiency and Organisational Design to ensure optimum performance of the business.
NED programme The introduction of a NED programme to ensure the best contribution from the NEDs. The regularity with which the NEDs visit the business (stores, garages, DCs and to attend listening groups). These activities help to ensure the NEDs fully understand the needs of the business.
Quality and structure of Board meetings The Board highlighted the importance of getting out and about to the different locations around the Group and to split some of the Board and Committee meetings over two days. This would allow more time for location visits and ensure time is available to receive the required number of management presentations. Despite some changes to the Board schedule due to the impact of COVID-19 which required meetings to be held remotely, the plan to conduct meetings over two days has been progressed. During the period, additional time was made available for committee activity and a separate session was held on strategy.
Quality of Board packs The Board felt that more focus is required in Board papers to ensure the Board is able to effectively monitor the progress on delivery. The Board packs (particularly the financial information) have been improved to allow and ensure greater focus on the metrics which are of key importance to the business.
Culture and talent Being a people-driven, service-based business, the Board felt that a renewed review of our culture was necessary to ensure that it evolves and remains fit for purpose. The Board will also monitor the talent within the business and the implication of appropriate succession planning. The new Company Values have been agreed and rolled out during the period. These have been well received and engagement has benefited as a result. This has been of particular importance during the COVID-19 crisis which has been challenging from an operational perspective.
Board training All Board members to update on training they have received. During the year, Directors have received updates on changes in corporate governance requirements and regular reports on the progress of the Company’s Digital Transformation.