Board Performance Evaluation

During 2006, for the first time, the Board of Directors made a self-evaluation of its performance (officially called a "Board performance evaluation"), thus adhering to international best practices and the provisions in the new Code of Conduct (criterion 1.C.1., letter g).

This evaluation studied the size, the composition and the functioning of the Board and its Committees, and was carried out with the assistance of a specialised external consultancy company that worked side by side with the Committee for Internal Control and Corporate Governance in order to set self-evaluation methods and analyse the results.

A generally positive evaluation of the Board and its work emerged from an analysis of the results, together with useful suggestions to improve its functioning further.