REPORT OF THE EXECUTIVE COMPENSATION COMMITTEE
Presented to the 98th Annual General Meeting
This past year the ECC undertook a pre-triennial review that included a gap analysis of the Policy of President and Vice-Presidents in comparison to the recently approve compensation philosophy and updated mandate of the Committee.
As well, the ECC initiated the triennial review cycle in advance of the 2018 election year. The results of this process will be presented to the Board of Directors for approval in early 2018.
The committee also completed several items from the approved three (3) year work plan previously approved by the Board, including the submission of: the 2016 ECC Annual Year Book that summarized the work of the Committee, an updated Policy on President and Vice-Presidents and, finalized terms of reference for the Committee. These documents are located on the PIPSC website.
Finally, the Committee presented a memorandum on the Authority of the Executive Committee (EC), as requested by the Board in 2016. This memorandum included a summary of the various authorities of the EC, the practices of the EC over the past several years, and several recommendations to improve the effectiveness and efficiency of the EC in the execution of its authority.
I would like to sincerely thank ECC Committee members Yvon Brodeur, Del Dickson, Nancy McCune and Greg Scriver and our staff resources, Ann Moynahan and Eddie Gillis, for their participation and dedication to the Committee. The members of the ECC would also like to express its sincere appreciate to Sue Baribeau for her many years of contribution to the ECC and the Institute and wish her all the best on her retirement this past year! We will miss you, Sue!
Robert K. MacDonald, B.A., MRM
ECC Chair