Statement of Corporate Governance
The objective of Bennett’s Board of Directors is to maximize shareholder value while governing the company’s activities so as to promote its long-term best interests in a manner consistent with good corporate citizenship, including fair treatment of employees, customers, suppliers and the communities in which Bennett operates.
Corporate governance encompasses the internal policies and practices by which Bennett is operated and controlled on behalf of its shareholders. The advantages of sound corporate governance include having a strong Board of Directors that is accountable to the Company and its owners. A good system of corporate governance also helps Bennett maintain the confidence of investors, which allows the Company to raise capital efficiently.
The business affairs of Bennett are conducted under the supervision of the Board of Directors in accordance with the Canada Business Corporations Act, as implemented by the Company’s Articles of Incorporation and By-laws. The role of the Board of Directors is to effectively govern the affairs of the Company for the benefit of its shareholders and, to the extent appropriate under the laws of Canada, other stakeholders, which include the Company’s employees, customers, suppliers, and the communities in which it does business. The Board strives to ensure the success and continuity of the Company’s business through the election of qualified management. It is also responsible for ensuring that the Company’s activities are conducted in a responsible and ethical manner.
Our board understands that strong governance frameworks are critical not only to ensure organizational compliance and effectiveness, but increasingly to meet capital market expectations. The board, through the Corporate Governance and Nominating Committee, continues to monitor governance reforms, and implements changes to our governance practices as necessary to comply with rules issued by the Canadian Securities Administrators, the Toronto Stock Exchange, other applicable regulatory authorities, and industry best practice.
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