Good governance is about making every decision with the long-term interests of MEC in mind. It means our leadership, processes and policies create the conditions for sound decision making, and that we are consistent, responsive and accountable to our members.
To stick to our commitment of good governance, MEC’s Board follows leading governance standards and practices:
- Having open, two-way communication with members
- Publicly sharing our Board and Committee job descriptions
- Abiding by our Code of Conduct, which ensures the Board upholds MEC values and acts with integrity
- Following procedures for disclosing and handling any potential conflicts of interest
- Overseeing MEC’s external auditor
- Ensuring our Board has the right skills and abilities
- Overseeing CEO performance evaluating annual Board and director performance.
If you have any questions regarding governance, please contact us at email@example.com.
Annual and financial reports
We put together an annual report to let members know about the successes and challenges MEC faced in the previous year. MEC’s consolidated financial statements are available to all – members and non-members alike.
The MEC Board meets five times a year, for two or three days each time. Each committee also meets between three to five times a year and directors normally serve on two committees. Directors attended 97% of Board meetings and 97% of Committee meetings during the 2018–19 board year.
The Board’s compensation structure is approved by the membership at our Annual General Meeting.
At the 2018 AGM, members approved a new retainer-only compensation framework, including a 2.5% increase each year until 2021. Directors no longer get paid meeting fees for each meeting they attend, but receive an annual retainer to reflect their responsibilities and duties.
|Annual Board Chair Retainer||$63,282||$64,865||$66,486|
|Annual Director Retainer||$35,282||$36,164||$37,068|
|Additional Retainer for chairing the Finance and Audit Committee||$6,720||$6,888||$7,060|
|Additional Retainer for chairing a committee (other than Finance and Audit) or for Director acting as Vice-Chair||$4,480||$4,592||$4,707|
|Additional Retainer for sitting on a committee (but not chairing)||$1,088||$1,115||$1,143|
Board compensation policy also requires disclosure of annual compensation paid to each MEC director, excluding reimbursements for expenses and travel. For the 2018–19 board year, directors were compensated as follows:
|Director||Total compensation 2018–19 board year|
|Ellen Pekeles (Chair)||$63,282|
|Daniel Blanche (Governance Chair)||$43,563|
|Rob Campbell (Nominations Committee Chair)||$40,850|
|Judi Richardson (Human Resources & Compensation Committee Chair)||$40,850|
|Kathy Uher (Technology Committee Chair)||$41,450|
|Bob Wallis (Finance and Audit Chair)||$43,340|
Governance disclosure statements
As part of MEC’s commitment to good governance, the Board publishes a governance disclosure statement to describe its performance in key areas.