September 28, 2012

Strategic Planning

Prior to the September SC meeting, the SC Board met with the OAC Board in the first-ever joint Strategic Planning Session. The purpose of the meeting was to help the Boards work collaboratively on strategic initiatives, establish a common vision for the future, and to ensure OMERS governance meets the needs of stakeholders.

The two Boards discussed various issues facing OMERS. Of particular interest were the issues of risk management and growth in membership and assets.

In addition, Mr. Tony Dean met with the Boards to discuss his preliminary findings under the 2012 Review of OMERS governance and to provide a forum for both Boards to discuss the 2012 Review collaboratively. Mr. Dean outlined his approach for engaging with both Boards on a confidential basis through the respective SC Co-Chairs and OAC Chair. Meetings would be held over the next two months and might also include chairs of each Board’s governance committees when needed. Both Boards endorsed Mr. Dean’s process, including the need for confidentiality to enable open and frank discussions.

There was agreement that this first joint Strategic Planning Session was a success.  Both Boards recognized the importance of such a meeting and endorsed this as an annual event.

Governance

Board Appointments

The SC received the reappointments to the SC Board of Jack Jones by OSSTF, Charlie Macaluso by EDA, Brian O’Keefe by CUPE and Bruce Stewart by AMO. Their terms will be from January 1, 2013 to December 31, 2015.

Earlier in the year, the Corporate Governance Committee (CGC) identified an issue with the number of SC Board seats expiring at the end of 2013.  In order to achieve a better distribution of Board seat expiry dates over a three-year cycle, the SC sought input from AMO, City of Toronto and OPFFA on extending their SC Board seat expiry dates from December 31, 2013 to December 31, 2014. In September the SC received confirmation that each organization endorsed this change and appointed their incumbents for the extended period. Accordingly, the terms of office for Marianne Love, John Fleming and Frank Ramagnano were extended until December 31, 2014.  By-Law #4 will be revised accordingly.