Governance - Edmonton Skyline

Governance

Committed to the Highest Standards of Corporate Governance

AIMCo is a Crown corporation of the Province of Alberta and is committed to the highest standards of corporate governance. We believe that the policies, processes and institutions that form a robust corporate governance framework are fundamental to AIMCo’s mission to rank among the best institutional investment managers and to inspire the confidence of Albertans. AIMCo is committed to a culture of integrity and accountability in the pursuit of its goals.

Board of Directors

In accordance with the Alberta Investment Management Corporation Act, the Board of Directors is responsible for overseeing the management of the business and affairs of AIMCo. All directors are duly appointed to the Board by the Lieutenant Governor in Council and must have experience in investment management, finance, accounting or law, or have served as an executive or director with a large, publicly traded company. Individuals should also have, to the extent practicable, experience in executive management of a substantial corporation. All directors are fully independent of management.

Directors are required by statute to act honestly and in good faith with a view to the best interests of the Corporation and, as such, are required to exercise due care, diligence and skill, and manage risk appropriately in their oversight of AIMCo.

Mac H. Van Wielingen

Mac H. Van Wielingen

Chair

John T. Ferguson

John T. Ferguson

Vice Chair

J. Richard Bird

J. Richard Bird

George F. J. Gosbee

George F. J. Gosbee

Ross A. Grieve

Ross A. Grieve

Virginia A. Holmes

Virginia A. Holmes

Helen M. Kearns

Helen M. Kearns

Harold A. Roozen

Harold A. Roozen

Andrea S. Rosen

Andrea S. Rosen

Robert L. Vivian Jr

Robert L. Vivian Jr

Thomas D. Woods

Thomas D. Woods

Board Diversity

AIMCo and its Board of Directors recognize and fully support the aims of diversity and inclusion. In assessing board candidates and selecting nominees for the AIMCo Board, the Governance committee will consider diversity of skills, experience, geographic background, gender and age.

Consistent with the AIMCo Board’s commitment to gender diversity and greater representation of qualified women on boards in alignment with the aims of robust board governance, the Board has a stated objective that at least 30% of AIMCo Directors should be women.

Board Committees

The Board of Directors has established four standing committees, which assist the Board in discharging its responsibilities:

  • The Investment Committee oversees and considers the investment activities, risk management and operations of AIMCo, reviews investment and risk-related reports from management, and votes on specific investment-related matters. The Investment Committee comprises all of the members of the Board, with Virginia Holmes serving as Chair.
  • The Audit Committee oversees financial reporting processes, development and implementation of internal audit and financial control policies, and compliance with said policies and applicable laws and regulations. It also reviews the implementation of AIMCo’s Confidential Reporting Policy. The Audit Committee consists of Richard Bird (Chair), John Ferguson, George Gosbee, Harold Roozen and Tom Woods.
  • The Governance Committee oversees the policies, processes and procedures that comprise AIMCo’s corporate governance framework. This includes overseeing terms of reference for the Board of Directors and each Board committee, conducting Board evaluations, and generally ensuring the principled, effective continuing operation of the Board of Directors. The Governance Committee consists of Andrea Rosen (Chair), John Ferguson, George Gosbee, Ross Grieve, Virginia Holmes and Mac Van Wielingen.
  • The Human Resources and Compensation Committee oversees the human resources strategy, philosophy and policies of the Corporation and offers insights to ensure these are aligned with corporate objectives. The Committee similarly reviews organizational structure, management development and succession, and compensation practices with the support of an external consultant, who is accountable to HRCC. The Human Resources and Compensation Committee consists of Ross Grieve (Chair), Virginia Holmes, Helen Kearns, Andrea Rosen, Mac Van Wielingen and Jay Vivian.

At every meeting of the Board of Directors, the Board and all Committees have in camera sessions, without management attending.

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