December 17 - 18 2013

Governance

 

2014 OAC Board Nomination and Appointment Process

 

As a result of the resignation of one of the recently appointed OAC directors, a new nominee was submitted by the sponsor organization for SC consideration.  In addition, the one outstanding nomination (as noted in November) was also provided.  The Corporate Governance Committee (CGC) and the OAC Chair and Vice Chair interviewed both nominees.   After considering the recommendation of the CGC, the information provided about the candidates and the needs of the OAC Board, the following nominees were appointed to the OAC Board:  Laurie Hutchinson (effective January 1, 2014) and William Butt (effective immediately, in order to fill a current vacancy), each for terms ending December 31, 2019.

 

SC Departing Members & Committee Appointments 

Outgoing SC Board Members Garth Pierce and Mark Ferguson were acknowledged by the SC for their contributions, Mr. Pierce since 2006 and Mr. Ferguson since 2010.  Their departure and subsequent new, incoming Board Members, were some of the factors considered by the SC Co-Chairs in recommending committee slates and chairs of the committees.  The SC approved their recommendations and amendments to By-Law #9 to allow for some changes to committee sizes and mandates.  In 2014, every SC Board Member will serve on either two committees or one committee and the Joint Council.  (The Co-Chairs are ex-officio members of all committees and sit on the Joint Council.) 

 

Education - Risk and Actuarial Valuations

Following an annual process, a joint education session was attended by both SC and OAC Board Members to address investment risk appetite and a preliminary session on the 2013 actuarial valuations.  This is a precursor to understanding the final valuations, which are generally presented in February.