TravelCenters of America LLC considers proper corporate governance to be important. A majority of our Board of Directors are independent, and all of our Board of Committees, including our Audit Committee, are comprised solely of Independent Directors.
We have a five member Board of Directors, of which three are Independent Directors. The Board operates with three separate committees: an Audit Committee, a Compensation Committee and a Nominating and Governance Committee. The Board has also adopted Governance Guidelines and Committee Charters for each of its Committees.
The Board's Audit Committee currently has a qualified Audit Committee "financial expert" as defined by SEC rules. We also have a Director of Internal Audit and Compliance who reports directly to the Board's Audit Committee.
All of the company's Directors, officers and personnel follow a Code of Business Conduct and Ethics. On December 1, 2015, TravelCenters of America LLC's Code of Business Conduct and Ethics (the "Code") was amended to clarify policies regarding reporting of conflicts of interest and violations of the law and the Code. The Code was also revised to recognize that our manager is now controlled by a public company. We also have a Governance Hotline that allows users to report matters directly to Senior Management, the Board of Directors or the Audit Committee.