Since 2016, Stelmine has aimed to build a Board of Directors and executive management team with the objective of improving the Corporation’s performance and enhancing value for its shareholders.
As the role of the Board of Directors and of the executives is to ensure the sound strategic and management orientations of the Corporation, the selection criteria for candidates are primarily based on their qualifications, skills and experience. At the same time, the Company recognizes that diverse Board members and management actively and knowledgeably contribute to the Company’s success by bringing diverse perspectives, backgrounds and experience to the Board.
Stelmine is proud to announce that 33% of the six seats on the Board are currently held by women, and that its sole executive on the date of this Information Circular, the President and CEO, is a woman. For the moment, no other group designated by law, such as First Nation or handicapped persons or members of visible minorities, are represented within the Corporation.
When seeking new candidates, the Corporation takes diversity criteria into account but does not have any policy nor specific targets to achieve, as it believes that all factors must be taken into consideration when assessing the merits of a director or executive officer and determining the most effective composition of the Board.
The Corporation has examined the question of determining whether maximum terms should be imposed on the mandates of each director and will continue to do so. At this time, the Corporation believes that such a policy is not appropriate for its Board of Directors since it wishes to ensure the stability and continuity of the directors’ respective mandates in order to support the Corporation in the current stage of its development.