; and (D) ensure that Midway Atoll continues to operate as an emergency alternate landing field for trans-Pacific flights. (3) Powers The Board— (A) shall have all necessary and proper powers for the exercise of its authorities; and (B) may enter into contracts with private sector entities for the operation of the Midway Atoll. (4) Chairman The Board shall have a Chairman who shall be selected annually by the Board from among its members in consecutive order. (5) Annual report (A) In general The Chairman of the Board shall submit annually to the Committee on Natural Resources of the House of Representatives and the Committee on Energy and Natural Resources of the Senate a report on the financial and operational activities relating to the Midway Atoll. (B) Member assessments Each member of the Board shall annually submit his or her assessment of such activities to the Chairman before the Chairman submits each report under subparagraph (A). (6) Compensation and expenses Members of the Board shall serve without compensation for their service on the Board services, but shall be reimbursed for actual and necessary travel and subsistence expenses incurred by them in the performance of their duties. (7) Attendance of meetings by contractors Any person who enters into a contract with the Trust to carry out operations of Midway Atoll may attend meetings of the Board, but shall not have authority to vote in such meetings. (d) Executive director and staff The Trust shall have— (1) an executive director appointed by the Board; (2) senior managers who have experience in management, finance, historical preservation, fish and wildlife conservation, and airport management