Corporate governance

GRI 102: 18-20, 22, 23, 25-27, 32-34
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Board of Directors

Our Board of Directors plays a central role in the governance process. The mandate of the Board, which it discharges directly or through one of five Board committees, is to supervise the management of the business and affairs of the Company. The Board is led by a non-executive Chair.  It has effective structures and procedures in place to ensure its independence from management and to ensure that conflicts of interest between the Company and any of its related parties are dealt with appropriately.

Details of Board governance including the nomination and selection process can be found in our Management Proxy Circular and in our Corporate Governance Practices Statement.

Corporate responsibility governance

Our Board of Directors has approved our Corporate Responsibility Statement, which formalizes our long-standing commitment to corporate responsibility. 

The Board monitors implementation of the Company's policy and strategy with respect to corporate responsibility. Each year we discuss our corporate responsibility plans and current environmental, social, and governance issues with the Board.

The Senior Vice-President and Treasurer is the appointed corporate responsibility lead and chairs the Corporate Responsibility Committee. Committee members are:

  • President and Chief Executive Officer of IGM Financial
  • President and Chief Executive Officers of the operating companies
  • Executive Vice-President and Chief Financial Officer
  • Senior Vice-President, General Counsel and Secretary and Chief Compliance Officer
  • Senior Vice-President and Treasurer

The Corporate Responsibility Committee is responsible for ensuring the implementation of corporate responsibility policy and strategy, as well as the approval of annual corporate responsibility reporting. They report to the Board on an annual basis or as necessary where critical concerns arise. No critical concerns were raised in 2017.

Supporting the Corporate Responsibility Committee is a Corporate Responsibility management team who are responsible for reporting, stakeholder engagement and collaborating with business leaders to advance environmental, social, and governance-related topics. They also meet regularly with the corporate responsibility teams across the Power Financial Corporation group of companies to align our commitments and share knowledge on our initiatives.

Also supporting the Corporate Responsibility Committee are two committees with focused environmental and social mandates. The IGM Financial Diversity and Inclusion (D&I) Council guides the implementation of our D&I strategy, including driving awareness and involvement. The IGM Financial Green Council works with committed teams of employee volunteers to help our people improve their environmental sustainability efforts at work and at home. 

Corporate responsibility governance structure

Corporate responsibility governance structure flowchart