Board and Senior Management Diversity

We believe in having diversity on the Board, and in business in general, and will continue to strive in that direction. Diversity is important to ensure that the profiles of Board members and senior management provide the necessary range of perspectives required to achieve effective stewardship and management of our business.

Commitment

We are committed to promoting diversity on the Board, within senior management, and in our overall business. As part of this commitment, we recognize the important role of a greater diversity, including gender diversity, in contributing to a variety of perspectives in the Boardroom and senior management roles.

Our approach to diversity is linked to our mission and articulated through our Board and Senior Management Diversity Policy, as well as our Code of Business Conduct and Ethics and our Respectful Workplace Policy and Procedures. 

It is to be noted that for the purposes of our Board and Senior Management Diversity Policy, diversity includes, but is not limited to, age, experience, education, geography, gender, sexual orientation, disability, race, nationality, culture, language and other ethnic distinctions, including Indigenous people. The Board recognizes that gender diversity is a significant aspect of diversity and acknowledges the important role of women in contributing to diversity of perspective in the Boardroom. As such, the Corporation’s Diversity Policy includes an objective of having not less than 30 per cent of the seats on the Corporation’s Board held by women by 2025. The number of women elected to the Board at the 2022 Annual Meeting of Shareholders increased to four, representing 29 per cent of the Board. 

We are committed to providing a work environment of equal opportunities in employment, appointments and advancement, based on appropriate qualifications, requirements and performance, and to support an inclusive and diverse workforce. We will not tolerate discrimination on the basis of, among other things, age, sex, sexual orientation, race, national origin, religion or disability.  

Responsibility

The Board and its Governance and Nominating Committee are responsible for making Director nomination decisions, and the President and Chief Executive Officer of the Corporation is responsible for making senior management appointment decisions. As part of these responsibilities, we are committed to cultivating a diverse and inclusive culture and selecting the best individuals to fill these roles within the Corporation.

Implementation

As part of our nomination and selection process, we:

• Consider candidates for both Director and senior management roles that are highly qualified based on their experience, education, expertise, judgment, personal qualities, as well as general and sector-specific knowledge;

• Consider diversity criteria, among other relevant criteria, when determining the optimum composition and balance for the Board;

• Review potential candidates for both Director and senior management roles from a variety of backgrounds and perspectives, having in mind the Corporation’s diversity objectives; and

• Ensure that appropriate efforts are made to include women in the list of candidates being considered for a Board position, in an effort to support the specific objective of gender diversity.

Monitoring and Review

On an annual basis, the Governance and Nominating Committee of the Board and the Chief Executive Officer of the Corporation assess the effectiveness of the Board nomination and the senior management appointment process at achieving the Corporation’s diversity objectives.