The primary responsibility of the Board is to oversee the business affairs of Valmont Industries. The Board exercises its business judgment to act in what the Board reasonably believes to be the best interests of Valmont Industries and its stockholders. To fulfill its responsibilities, the Board, directly or through Committees (i) reviews, approves and monitors operating, financial and other corporate plans and strategies, (ii) reviews major risks and evaluates management’s approach to addressing such risks, (iii) evaluates the performance of the company and its senior management as well as compensation and succession planning for senior management, (iv) reviews maintenance of proper accounting, financial and other appropriate controls, (v) establishes policies of corporate conduct, and (vi) selects the chief executive officer, who is responsible for the day-to-day conduct of the Company’s business.