CCGG Releases New Guidelines for Building High Performance Boards

In March of this year, the Canadian Coalition for Good Governance (CCGG) published new guidelines for Building High Performance Boards (Guidelines). The original guidelines were introduced in 2005. Significant new commentary has been added in respect of risk management, and the Guidelines demonstrate an increasing emphasis on shareholder engagement by boards of directors as reflected in its model shareholder engagement and say-on-pay policy.

The Guidelines focus on developing high performance boards that are (1) accountable and independent; (2) have experienced, knowledgeable and effective directors and committees; (3) have clear roles and responsibilities; and (4) engage with shareholders. The CCGG encourages corporate boards and executives to continually assess whether their governance practices are enhancing shareholder value.