Which committee is responsible for assessing board performance?

The committee primarily responsible for assessing board performance is the Nomination Committee. This committee plays a critical role in the governance of an organization by ensuring that the board has the right mix of skills, experience, and independence necessary to effectively oversee the company's operations. One of its key functions includes evaluating the performance of the board collectively, as well as that of individual directors, to ensure that the board remains effective and continues to add value to the organization.

The Audit Committee focuses on overseeing financial reporting and disclosure, as well as the effectiveness of internal control and risk management systems. The Remuneration Committee manages compensation policies and practices for senior executives and directors, typically assessing performance in the context of remuneration but not directly assessing overall board performance. Although the Performance Committee could theoretically assess performance, it is not a commonly recognized structure in corporate governance. Thus, the Nomination Committee is the correct choice concerning board performance assessment.