OMERS is working with Sponsor Organizations to deliver on the new capacity requirements for the OAC Board when finding directors to occupy the five positions whose terms expire at the end of 2014. We are looking to repeat the success of 2013.
We continue to make significant progress enhancing governance at OMERS, fully addressing a number of the recommendations that came from the OMERS Governance Review conducted in 2012 by Tony Dean. As we continue down this road, we recognize that good governance is not just a destination or a series of tasks to be completed, it is about constant evolution and striving to be better – it must be built and developed over time.
George Cooke, who occupies the role of Independent Board Chair (IBC) created in 2013, will play an important role in enhancing the OAC’s governance. The Spring Information Meeting is a great opportunity to hear from George and what he has been doing to move OMERS forward.
We will continue to build on the new capacity requirements for the OAC board. We went through the appointment process for seven OAC Board positions in 2013 and we must continue to deliver on the objectives behind those requirements and ensure the same kind of results for five more positions in 2014. As in 2013, the nomination process for OAC Board directors will be done in collaboration with the Sponsor Organizations – and this process is currently underway. Thanks again to the Sponsor Organizations who made 2013 a success.
Good governance is also about meaningful two-way communication – something OMERS has committed to delivering. Meetings with representatives of organizations which are not affiliated with the Sponsor Organizations are part of that commitment and will now occur on a regular basis. This will ensure these stakeholders are fully engaged in issues of importance to OMERS, and to ensure OMERS is aware of the issues of importance to them.
There are more details about what OMERS has done to address the recommendations from OMERS Governance Review.
We believe that the list of accomplishments is only a part of the picture. You will continue to see evidence of change as we move forward and as the impact of these accomplishments take root.
Please participate in Information Meeting-Spring 2014, taking place April 3, 2014, to learn more.
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