A further critical task of the board of directors is to monitor the performance of the CEO. You should note that the board’s responsibility is to evaluate only the CEO’s performance. Employee evaluations below the CEO level are the responsibility of the CEO and other managers in the organization.
Therefore, the board will have to determine early in the process whether it will plan, coordinate, conduct the review itself, or seek the assistance of a third party to provide advice and facilitate the process. If a third party is to be used, it should be involved as early as possible.