< Composition of the Board of Directors and Committees
Evaluation of the Board of Directors and its Committees in 2011
In 2011, the Company’s Board of Directors held 6 scheduled meetings on 17/3, 5/5, 15/6, 2/8, 10/11 and 19/12. It also held an additional unscheduled meeting on 16/06, to issue a resolution for the death of its past member, Socratis Angelides.
As already mentioned, during 2011 the Audit Committee met 4 times (on 11/3, 5/5, 2/8 and 9/11), the Nomination and Corporate Governance Committee met once (on 25/2) and the Remuneration Committee met once (on 5/5).
Below is a table showing which members attended these meetings of the Board of Directors and its Committees during 2011:
The activities of the Board of Directors, Audit Committee, Remuneration Committee, Nomination and Corporate Governance Committee during 2011 and the individual contribution of each member of the Board of Directors was evaluated by the members of the Board of Directors by filling out a special, detailed questionnaire which had been prepared by the Company Secretary. The questionnaire was divided into 7 sections (Leadership, Line-up-Effectiveness-Board operations, BoD Work-Responsibility, Accountability - Communication with Shareholders, Committees Function, Members Attendance at the Board Meetings and the Shareholders Meetings and Individual Evaluation of the Members). Each member’s contribution is evaluated with a score, ranging from 1 to 4, corresponding to poor, unsatisfactory, good and excellent contribution.
The questionnaires were filled out anonymously and sent to the Company Secretary.
The Nomination and Corporate Governance Committee presented the conclusions drawn from the answers to these questionnaires to the Board of Directors and submitted specific proposals on how to further improve the operations and performance of the Board of Directors and its Committees.
Moreover, the Board’s independent members evaluated the Chairman’s performance during their meeting, without the Chairman or other executive members being present.
BOARD AND COMMITTEE MEETINGS - FREQUENCY
AND ATTENDANCE
| NAMES | Six scheduled Board meetings | 1 non-scheduled Board meetings | Audit committee Four meetings |
Nomination and Corporate Governance Committee One meeting | Remuneration Committee One meeting |
| ANDREAS CANELLOPOULOS | 6/6 | 1/1 | 1/1 | ||
| TAKIS(EFSTRATIOS-GEORGIOS) ARAPOGLOU * | 5/6 | - | 1/1 | ||
| DIMITRI PAPALEXOPOULOS | 6/6 | 1/1 | |||
| EFTICHIOS VASILAKIS | 5/6 | - | 4/4 | ||
| EFTHYMIOS VIDALIS | 5/6 | 1/1 | 2/2 | ||
| GEORGE DAVID | 3/6 | - | 1/1 | ||
| SPYRIDON THEODOROPOULOS | 5/6 | - | 1/1 | ||
| NELLOS CANELLOPOULOS | 6/6 | 1/1 | |||
| TAKIS-PANAGIOTIS CANELLOPOULOS | 6/6 | 1/1 | |||
| PANAGIOTIS MARINOPOULOS | 3/6 | - | 1/1 | ||
| ALEXANDRA PAPALEXOPOULOU-BENOPOULOU | 6/6 | 1/1 | |||
| PETROS SABATACAKIS | 5/6 | - | 2/2 | 1/1 | |
| MICHAIL SIGALAS | 6/6 | 1/1 | |||
| VASSILIOS FOURLIS | 4/6 | - | 4/4 | ||
* Participated through teleconference in one meeting.