The board of directors has an annual plan for its work. It includes recurring topics such as strategy review, business planning, risk and compliance oversight, financial reporting, people strategy, succession planning as well as HSE and CSR. The board has also used significant time on the completion of the Vale transaction and integration follow up. This included a visit to Brazil and Hydro's mining operations in Paragominas, the Alunorte refinery, the Albras smelter and Hydro's regional headquarter in Rio de Janeiro. The visit included follow-up of the integration and operations of the businesses acquired from Vale, and different social programs established in connection with these operations. The board of directors was also involved in evaluating market developments including continuous evaluation of curtailed capacity.
In 2011, the board of directors also completed a self-assessment and a separate assessment of the board's chairperson. Both were presented to the nomination committee. The evaluation processes were facilitated by an external service provider.
The board of directors held 10 meetings in 2011 with an attendance of 92 percent. The compensation committee held seven meetings and the audit committee nine meetings.
Tito Botehlo Martins Jr. joined the board of directors on February 28, 2011 as a 10th board member. On May 13, Ove Ellefsen was elected as board member. He replaced Jørn B. Lilleby as one of the Board's three employee representatives.
