A highly skilled Board The Board comprises highly skilled professionals who bring a range of expertise, perspectives and corporate experience to their roles.

Board changes

The Board thanks Stewart Porter for his dedication who retired ahead of the November 2023 AGM. During the AGM, the shareholders resolved to re-elect each of the remaining four Directors of the Company. In accordance with the Company’s bye-laws and the principles of the AIC Code, all Directors of the Company wishing to continue as Directors will offer themselves for re-election at the next AGM. View the Company’s bye-laws.

Following the retirement of Stewart Porter, the Board is now comprised of 50% female and 50% male Directors. Discussions were held with a potential candidate for the Board in 2023, which ultimately did not move forward. The Board is committed to revisiting this process in 2024. Of the four Board members, only one (Peter Dubens) is considered not to be independent. The Board has concluded that Peter Dubens, and his alternate Director (David Till), cannot be viewed as being independent due to their involvement with Oakley, which provides the Company with investment advisory, administration and operational services. The Independent Directors consider their involvement to be accretive to the overall performance of the Board.

Board activity

The Board met formally ten times during 2023, in addition to the Board members’ participation in the individual committees as discussed elsewhere in this report. This Board is currently scheduled to meet seven times during 2024, with Directors available for additional meetings, as necessary, for the Board to properly discharge its duties as business requirements develop.

Biographies of the Directors, including details of their relevant experience and other current directorships, can be viewed in the Board of Directors section.