The board has an annual plan for its work. In addition to recurring topics such as a review of board procedures, competency, priorities, collaboration with the company's management, strategy review and business planning, the board used significant time in evaluating Hydro's capacity adjustments and other initiatives in response to the dramatic market developments. The board has also been occupied with Hydro's development within HSE and CSR. In January 2009, the board regretfully accepted the resignation of the President and CEO, Eivind Reiten, and appointed his successor, Svein Richard Brandtzæg. The change of CEO was effective March 30, 2009.
The board's development plan in 2009 covered market conditions as well as Hydro's specific technology and project competence, and included visits to Qatalum, Hydro's technology center in Årdal and the Tyin power plant, both in Norway. The board held 15 meetings in 2009 with an attendance of 97 percent. The compensation committee held six meetings and the audit committee 10 meetings.
Grete Faremo stepped down from the board on October 21, and Bente Rathe was elected new deputy chair person.
