1. Toolkit II – In Practice The Case of Bulgaria Prof. Bistra Boeva Co-Chair of the Bulgarian Corporate Governance Code of Best Practice Task Force and member of Private Sector Advisory Group (PSAG)

2. Managing the Process The Scope The Task Force Master Schedule Budget Logistics International Expertise Code Peer Review Evaluation of the Work of the Task Force Future looking (ROSCs, Monitoring and Action Plan, etc

3. The Task Force- the human factor that changed the status quo of the Bulgarian CG milieu How the Task Force was established: A core group of like minded people- business, NGO, academia-regular participants in OECD SEE Roundtables on CG(2001-2006) ; BSE management; Newcomers- representatives of the Employers’ association, Government, consulting companies;

4. The quick transformation from a group to a team Short-term cycle of Forming, Brain- Storming, Formulating (of norms), Performing; Motivated and responsible people; A good, balanced mix of knowledge and experience- lawyers, economists, sociologists,

5. Key factors Key factors for the good working process of the Task Force: - Composition in terms of experience and knowledge; -Well crafted assignment ; -Proactive Task Force members -Commitment of the Task Force members -Motivation and coordination instead of commands; -Monitoring and controlling of the execution of assignments -Good communications within the Task Force

6. Standard Evaluation Criteria and Methods Why is it important to evaluate the Committee’s work? How to improve the Committee’s performance Staying on track and reassigning tasks

7. Principles of the evaluation process Good reporting procedures: meetings’ minutes; free discussions Strict or soft criteria for evaluation; Focus on results-based evaluation; A reliable and knowledgeable project manager; Good work examples instead of strict control and evaluation

8. Lessons learned Country specifics, Task Force composition determine some deviations from the Toolkit Guidance; Evaluation has to be based on “soft” criteria and on reporting of the progress of the execution of assignments at every meeting; A benchmarking approach instead of a formal evaluation of the Task Force members’ contribution Strict evaluation could block the initiative of proactive and enthusiastic Task Force members

9. Lessons learned The evaluation has to support the progress of the elaboration of the code Thank you for your attention! Prof Bistra Boeva