Director Induction

An introduction to the role and legal responsibilities of a director – some new appointments will have come from a partnership structure and not have this knowledge. UK Corporate Governance Code.
What board committees exist and which, if any, the director will sit on.
Any special role or responsibilities the director will have.
Where and how to get advice if the director has any concerns.

The company’s articles of association, and what they say about the operation of the board.
The composition of the board.
Corporate governance issues (eg succession planning, separation of chief executive and chairperson).
Board committees, and what responsibilities have been delegated to them.
Responsibilities delegated to individual directors and to the company secretary (if the company has one??) eg company administrative duties.
Responsibilities delegated to the chief executive and other company officers.
Board procedures (eg circulation of documents prior to meetings, where meetings are held).
Frequency of board meetings; meetings currently scheduled.
Agenda for next meeting.
Minutes of previous several meetings (and of any committees on which the director will sit).
Copies of all recent discussion documents.
Details (eg brief CV and contact details) of other directors, and which committees they are on.

Introduction to the company’s history.
The company’s structure;
All subsidiaries, joint ventures or shareholdings in other companies.
Major events over the last few years.
Company mission or vision and current business plan.
Current performance of the business: financial position, budgets and management accounts, key performance indicators.
Any significant litigation the company is involved in or may become involved in.
Previous annual report and accounts (and any interim reports).
Any other significant reports.

Key individuals (other than the board): senior executives, their roles and contact details; any other key individuals.
Professional advisers and how they work with the board.
Key policies and procedures: eg health and safety; disaster recovery.
Insurances in place, including any directors’ and officers’ liability insurance.

Thinking about induction process

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