December 13, 2012


2012 Review

The SC Board and OAC Board received a presentation from Mr. Tony Dean with his preliminary findings on the 2012 Review.  Mr. Dean commended both Boards for the considerable progress and achievements made since 2006 when the current governance model was introduced.  Mr. Dean  provided various suggestions for enchancing the governance of OMERS and indicated that his final report would be available early in the New Year.  The Corporate Governance Committee (CGC) will consider the recommendations in Mr. Dean's report (when released), as well as comments received from stakeholders, when the CGC resumes its review of Board composition and the appointment process under By-Laws #4 and #13.

Board Appointments

The SC appointed a new OAC Director, City of Toronto nominee David Beatty (succeeding Leslie Thompson) to the OAC.  His term will be from January 1, 2013 to December 31, 2015.  With the appointmet of Mr. Beatty, both the OAC and SC Board slates of Directors for 2013 is complete. (See Complete Board Terms of office effective January 1, 2013 - SC - OAC.) 

The SC Co-Chairs are each appointed by their respective caucuses (employer or employee) on an annual basis.  Marianne Love and Brian O'Keefe were reappointed for the 2013 calendar year.  Additionally, the process for appointing the Co-Chairs was reviewed and updated, and will result in changes to By-Law #4.

Service Provider Reviews

On an annual basis, the Board and staff assess the performance of service providers, typically legal, actuarial and audit.  Additionally, market comparisons and issuance of RFPs are undertaken on a prescribed basis.  All current providers were reconfirmed for 2013.