TI's board of directors has a long-standing interest in and commitment to good corporate governance. It first adopted written governance guidelines in 1973. Its policies and practices have evolved over time, adapting to meet the needs of the company and its shareholders. This evolution continued during 2002, as the board began holding an executive session of non-management directors at each board meeting, and initiated a formal, annual board evaluation. In 2003, the board will consider comments received from the evaluation and continue to monitor regulatory activity, such as proposals to amend the New York Stock Exchange listing requirements. The board will further refine its policies and practices as needed.