“The status quo for boards in this country is not an
option. They must evolve to meet the challenges of today and position
themselves to meet the even higher expectations that will be placed on them
About the report
Boards of directors today face an increasingly dynamic and digital world with new geopolitical, environmental and social challenges and rising expectations from a diverse group of stakeholders. In a world that is changing at an extraordinary rate, it’s more important than ever that boards of directors think differently about how they master their jobs as directors, how they assess risk, how they evaluate strategy, how they select executive leadership and measure performance, and how the organizations they oversee are ultimately governed.
Recognizing this, TMX Group Limited and the Institute of Corporate Directors formed a diverse, 13-member committee of eminent directors and governance experts with the mandate to study the current state of corporate governance in Canada and outline recommendations for practical guidance to ensure Canadian boards are well-equipped to meet new challenges and rising expectations.
The resulting report calls for the strengthening of Canadian corporate governance to address the challenges and new risks that organizations face today, and highlights the imperative for boards to address rising expectations in a multi-stakeholder world. The report is the product of more than two years of work and critical evaluation by the committee, and represents a principled approach to advancing the state of corporate governance in Canada.
The committee's report is designed to provide guidance for directors of companies and organizations of all sizes across Canada’s business community, reflecting their diverse needs and resources, including Canada’s unique public venture market that enables small companies to become public companies.