Sound and effective corporate governance is essential to our long-term success and critical to effective, efficient and prudent operation of the company.
Corporate governance means having the appropriate processes and structures in place to ensure that our business is managed in the best interest of shareholders while keeping in mind the interests of all stakeholders.
Our corporate governance practices are designed to ensure the independence of our Board of Directors, enabling them to effectively supervise the management of the Company. Board independence ensures that Methanex is managed for the long-term benefit of our shareholders and other major stakeholders.
More information on our corporate governance practices can be found in our Information Circular and the Chair’s Message on Corporate Governance contained in our 2022 Annual Report.
Board, Employee and Shareholder Alignment
We believe the alignment of Board members and management with shareholder interests promotes good corporate governance.
Share ownership requirements for the Board and executive officers are as follows:
- Directors to own shares valued at 300 per cent of their total annual retainer to be reached within 5 years from their date of appointment.
- President and CEO to own shares valued at 500 per cent of annual base salary
- Other executive officers to own shares valued at 300 per cent of annual base salary
Code of Business Conduct
Our Code of Business Conduct provides employees and directors with a set of standards to help them avoid wrongdoing and to promote honest and ethical behaviour while conducting the Company’s business. It also provides a confidential “whistle-blower” hotline for reporting suspected violations of the Code.
Board Diversity
We recognize the importance of diversity, including gender diversity, at all levels of the Company, starting with the Board. Board diversity promotes the inclusion of different perspectives and ideas, and ensures that the Company has the opportunity to benefit from all available talent. This enhances and improves decision making, which helps maintain a competitive advantage and makes for better corporate governance.