Corporate Governance Disclosure
Board Composition SaskEnergy’s Board is representative of the Saskatchewan community and industry. The Lieutenant Governor in Council, pursuant to The SaskEnergy Act, appoints up to 12 members, and designates a Chair and a Vice Chair. Members are representative of community/stakeholder diversity, and they possess a variety of attributes, including industry expertise, strategic leadership, entrepreneurial and communication skills, integrity, flexibility, initiative and sound judgment. Members are appointed to a fixed term, and terms may be renewed by the Lieutenant Governor in Council. There are currently 12 people appointed to SaskEnergy’s Board of Directors. These same 12 people are also appointed as members for the Boards of Directors for each of SaskEnergy’s four subsidiary companies. Seven members (58 per cent) are women, which is ahead of the Utility Sector and Oil and Gas Sector general diversity targets for the representation of women on Boards as presented in the Canadian Securities Administrators (CSA) Multilateral Staff Notice 58-310. The Board Chair is Ms. Susan Barber, Q.C. and the Vice Chair is Ms. Nola Joorisity. None of the members of the Board of Directors are ‘over-boarded’ as this term is defined in recent guidance, allowing members to properly carry out responsibilities on a reasonable number of Boards. The following table illustrates the diversity statistics for the number of women represented on SaskEnergy’s Board of Directors and Executive over the past three fiscal years:
SaskEnergy’s commitment to leading governance practices demonstrates accountability to stakeholders. Effective governance helps ensure that SaskEnergy operates as both a financially viable organization and a responsible Corporation. SaskEnergy governance practices ensure that the Corporation’s customers and employees are provided with fair and equitable treatment and that the correct levels of authority and accountability are established so that all employees can accomplish their work without unnecessary limitations or risks. Board Stewardship/Mandate The SaskEnergy Board of Directors (the Board) is responsible for the stewardship of the Corporation, and oversees and closely monitors the Corporation’s adherence to provisions of The SaskEnergy Act and its Regulations. The Board has adopted written Terms of Reference stating that the Board sets the strategic direction, ensures the integrity and adequacy of the Corporation’s systems and management practices, recommends the appointment or termination of the President and Chief Executive Officer and regularly examines the objectives and mandates of its structure. The Board promotes a culture of integrity, ensures that the principal and material corporate risks are managed, evaluates the Corporation’s performance and monitors financial results. The Board meets outside the presence of management at each meeting.
2018-19*
2019-20*
2020-21
Total Positions
# of Women
Total Positions
# of Women
Total Positions
# of Women
%
%
%
Number of Women represented on Board Number of Women represented on Executive Number of Women in Board Leadership Roles (Chair, Vice Chair)
11
7
64
12
7
58
12
7
58
8
2
25
8
3
38
8
3
38
2
2
100
2
2
100
2
2
100
*Data collected from previous Annual Reports
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