Board Policy CA-420: President and CEO Performance Review and Development Committee

Effective date: 2017-06-19

Purpose

To ensure the effective management of the organization, the Board of Directors (the “Board”) and President and Chief Executive Officer (the “President and CEO”) will jointly establish a performance review and development plan for the President and CEO (annual appraisal) to guide the work of the President and CEO during the year. The President and CEO’s performance review and development plan and job description will serve as a basis for the President and CEO’s annual performance appraisal.

Policy

  1. The Board will set up a President and CEO Performance Review and Development Committee (made up of the Chairperson and Vice-Chairperson) to develop a performance review and development plan jointly with the President and CEO.
  2. The performance review and development plan will be submitted yearly and any changes to the plan will be submitted from time to time to the Board for approval by the President and CEO Performance Review and Development Committee.
  3. The President and CEO performance review and development plan will be established each year before the end of the first quarter of the new fiscal year.
  4. The President and CEO performance review and development plan should be formally reviewed around mid-year and may be updated or revised to reflect any change in circumstances.
  5. Appraisals and ratings recommended for incentive pay, measured against the President and CEO performance review and development plan for the previous fiscal year, should be completed before the end of the first quarter of the following fiscal year.

Guiding principles

  1. Performance management supports, reinforces and integrates the achievement of the results of the business plan and annual plan with individual performance objectives.
  2. Compliance with standards, measurements and indicators should be established in the President and CEO performance review and development plan.
  3. Performance commitments and measurements should be set at a level that reflects the high level of performance expected.
  4. Performance management focuses on both the improvement of organizational processes and structure and the improvement of the President and CEO’s performance.
  5. The President and CEO performance review and development plan should include a reference to the President and CEO’s expectations for the organization’s senior managers, promoting a consistent and continuous approach in performance measurement within the leadership team.
  6. The President and CEO performance review and development plan will include a personal development plan.