In order to highlight and increase awareness of the crucial role of the chair in efficient, effective and business oriented board work, the auditing and consultancy firm Deloitte and the non-profit Swedish Academy of Directors (Styrelseakademien) founded the Golden Gavel Award in 2005.
The Golden Gavel for outstanding performance in the role of chair of a company board is awarded in two categories each year, one for stock exchange listed companies and one for non-listed companies.