5. Assessment of the Board of Directors

On a regular basis, the Board of Directors proceeds to assess its overall contribution to the long term success of the business, setting out its strategic mission and aiming to optimise its own composition and functioning and the composition and functioning of the Committees created by it.

To this end, discussions are held by the Chairman and the Vice-Chairman of the Board of Directors with each individual Director, with regard to the roles of the Board of Directors, of the Remuneration and Nomination Committee and the Audit Committee, their priorities, their composition, the quality of information made available to the Board and the Committees, and also the frequency and duration of their meetings. The relationship of the Board of Directors with the Chairman of the Executive Committee is also analysed.

The Chairman of the Remuneration and Nomination Committee is responsible for conducting the Board Effectiveness assessment process and for reporting the results to the Board. The process is confidential and reported to the Board on a no name basis.