OAC Board Appointments
One of the most important responsibilities of the OMERS Sponsors Corporation (SC) is the appointment of directors to the OMERS Administration Corporation (OAC) Board. In 2013 a new nomination and appointment process and philosophy were adopted, designed to create a higher capacity OAC Board with a range of important skill sets and competencies.
The nomination process began in February of this year for two sponsor organizations which have term expirations on December 31. In late August of this year, the Corporate Governance Committee (CGC) conducted interviews with two individuals that were nominated by sponsor organizations, with the participation of the OAC Board Chair, George Cooke. Following the interviews, the CGC continued its assessment of current and complementary competencies of the entire OAC Board before providing its recommendations to the SC for approval.
Two current OAC directors were reappointed: David Beatty (nominated by the City of Toronto) and Michael Fenn (nominated by the Association of Municipalities of Ontario). Both terms are effective January 1, 2016 for a period of three years.
September 22, 2015
The OMERS Sponsors Corporation (SC) and the OMERS Administration Corporation (OAC) Boards participated in the fourth annual joint strategic planning session to discuss the final details of a joint strategic plan developed and refined over the previous months. The final approval of the plan will be discussed at the October 2015 SC Board and OAC Board meetings.