The Board of Directors and the Company’s management are accountable to the shareholders. The role of the Board, the CEO, the Chairman, Lead Director and the individual committees are clearly delineated. Corporate governance processes and practices are regularly assessed to ensure governance objectives are met.
Management is led by the CEO, who is responsible for the development of long-term corporate strategy. The Board has clear guidelines to assist in meeting its corporate governance responsibilities. They review, question, validate and approve the strategies of each operating segment of the Company.
While strategy development is continuous, the Board holds an annual meeting devoted to the Company’s long-term strategy. Every two years the Board conducts an in-depth review of each business's operation, competitive positioning and strategy on a rotating basis. The Board receives annual reports from the Human Resources and Compensation Committee on management succession planning.
|Read more about the Board’s mandate.|