The board has established two committees: the compensation, nominating and governance committee, and the audit committee. Each committee chairman, who is an independent director, is responsible for directing the meetings of the committee and for ensuring that the roles and responsibilities of the committee have been met. The chairman of the committee is also responsible for reporting to the board on those matters that the committee has dealt with since the last regular meeting of the board. Each committee regularly examines its effectiveness in fulfilling its roles and responsibilities and reports its findings to the board. The committees may convene meetings without management present whenever the committees feel it is necessary. Each chairman also acts as a liaison between management and the board.