An open, transparent and critical board room culture forms the basis for the Board of Directors’ annual review of its own performance and effectiveness. The Board of Directors evaluates its work on one hand and the performance of the Chairman on the other. It conducts the self-assessment on the basis of questionnaires which deal with the Board’s composition, organisation and processes, the Board’s responsibilities governed by the SRL Bylaws as well as with the focus areas and goals of the year under review. 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 its composition, organisation and processes as well as the scope of its responsibilities, assesses their accomplishment and evaluates the achievement of the goals set and its performance.