ROYAL MAIL HOLDINGS plc
BOARD PERFORMANCE EVALUATION QUESTIONNAIRE RESULTS 2007
Attached are the summarised results of this year’s survey. Overall the results show
an improvement on the previous year’s results, with the number of “dissatisfieds”
much lower. In addition almost all the areas for action identified last year do not
feature this year — with the exception of more time for strategy discussions. The
main issues this year appear to be as follows:
Q3-— risks: there appears to be some concern that the Board should do more on
discussing risks and how they are managed. However the Risk Management
Committee is being re-formed under lan Duncan, with the GET also spending more
time on risks. This should produce more focussed reporting to the Board and the
Audit Committee. Does any more action need to be taken?
Q4 — time spent on business strategy: still some dissatisfaction here.
Q5 — business performance: some concerns here that the Board does not have the
tight performance information
Q6 — meeting frequency: some views here that the Board could meet one or two
times less each year. Shall we aim not to have an August board next year?
Q18 — relationship with shareholder: many concerns here. Are they just a reflection
of the difficult time we have been through, or are there specific actions to take to
improve. Invite the new Secretary of State to a Board meeting/dinner? (It used to be
the practice).
Other issues, mainly just mentioned once:
should be more executive involvement in board discussions (Q12 and 13)
need consistent presentation of investment cases (Q8)
Nomco role goes too deep into organisation (Q15)
little formal reporting from Remco (Q16)
eee
Jonathan Evans
Company Secretary
June 2007
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