Re: Performance Appraisal of a COO
Hello ash,
Normally, the President is not given the usual Performance Evaluation. The President remains based on the trust and confidence of the Board of Directors. If your board wants to have some tools to evaluate the President's performance, I suggest the following approach: Upon appointment as President, he should be given specific goals or objectives for the next 5 years. These goals and objectives are further broken down into years and quarters. Generally, the objectives are financial and profit objectives. At the end of each year, the Board decides whether the president and his team attained the planned objectives and decides how much bonus the president will receive. The Board should establish the performance expectations and make sure the President is informed. By the way this does not apply if the President is the owner of the company.
Regards Dr. Jha
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