Meetings
The average number of scheduled board meetings convened in
2024 rose to 9.5, marking a 7% increase from 8.5. The overall average of meetings,
both planned and ad hoc, remained stable at 9.8. Attendance rates
continued at impressively high level, at an average 94%.
The increase in scheduled meetings may be attributed to
factors such as enhanced risk management, effective crisis management, or the
increasingly complex nature of current business environments.
Seven companies out of the 47 under review across the Bel
Mid and Bel 20 indices held more than 15 board meetings in 2024; bpost group
and Warehouses De Pauw held up to 24 board meetings in the same period.
The number of companies reporting ad hoc meetings in their
annual reports plummeted by 87% (from 54 to seven), probably due to the
consequences of the pandemic dissipating.
External commitments
52% of directors — 244 individuals — served on a single
board in 2024. Additionally, 31% (145 directors) held positions on two boards,
10% (47 directors) were involved with three boards, 6% (28 directors) served on
four boards, and 1% (four directors) participated on five boards concurrently.
Board evaluation
An encouraging development in 2024 is that all companies in
our sample engaged in board evaluations, indicating a positive shift towards
enhanced governance practices and accountability. In 2023, 5% of the companies
under review did not conduct or disclose any form of board evaluation.
The number of boards conducting external evaluations rose from nine out of 56
companies in 2023 to 14 out of 47 companies in 2024, representing an impressive
85% growth. This trend is particularly notable within the Bel 20 index, where
the number of companies utilising external evaluations rose from five to eight.
In the Bel Mid index, the figure also increased, from four to six companies.
External board evaluations play a crucial role in enhancing a company’s credibility,
objectivity, effectiveness, and transparency, all of which strengthen
governance practices. This year, a greater use of external assessments indicates
rising commitment to ensuring that boards function optimally by confirming that
the most effective mix of skills and capabilities are in place.