Performance Evaluation Process
The Board is responsible for reviewing and monitoring the performance of the Chairman, the Managing Director and other individual members of the Board, and for establishing the performance criteria against which such performance can be evaluated.
In addition, the Board Charter requires the Board, at least once a year, to review and evaluate the performance of the Board, its committees and each individual Director against the relevant charters, corporate governance policies and agreed goals and objectives. Following each review and evaluation, the Board will consider how to improve its performance.
The Board also sets the goals and objectives for itself and its committees each year and, if necessary, amends the relevant charters and policies to better reflect these goals and objectives.
Given the small size of the Board and the fact that it has not established a Nomination Committee, the above functions are reserved for the Board.
The review of the performance of key executives of the Responsible Entity is undertaken by the Managing Director in conjunction with senior management of Babcock & Brown.