The Board of Directors annually reviews its own performance and effectiveness. It evaluates the Board of Director’s work on one hand and the performance of the Chairman on the other. It conducts the self-assessment on the basis of pre-defined topics such as the Board responsibilities governed by the SRL&Group Bylaws, Board composition and meeting set-up. The topics are discussed and take-aways defined to be incorporated in the goals for the upcoming year. In addition, each Board committee annually reviews the adequacy of the scope of its responsibilities, assesses their accomplishment and the committee’s structure, processes and membership requirements and evaluates its performance.