(January 10 – 15:50 ET) – The Conference Board of Canada and Spencer Stuart are feting the Bank of Montreal as the private sector winner of the first National Awards in Governance.

BMO is joined by the Capital Health Authority and The Deposit Insurance Corporation of Ontario as winners in the not-for-profit and public sectors.

The Conference Board says that BMO is the private sector winner for the bank’s move to evaluate directors through the establishment of a directors Peer Feedback Survey. The directors survey measures the performance and contribution of each director on a variety of topics. The survey has received 100% participation since its inception three years ago, and bank directors say the survey is an excellent self-assessment tool.

The Deposit Insurance Corporation of Ontario won the public sector award for its innovative board selection and recruitment process. Like most crown corporations, DICO’s board is appointed by government, but DICO has provided additional input into the appointment process and has developed a set of criteria for board membership. A committee interviews candidates, and the full DICO board submits recommendations for candidates to the minister. “This process has resulted in a board that fully contributes to the organization’s success.”

Capital Health is the winner of the not-for-profit sector for its stakeholder consultations.

“Recognizing the best practices of Canadian boards of directors is the focus of these awards,” said Jim Nininger, CEO of the Conference Board. He co-chairs the awards program with Andrew MacDougall, president of Spencer Stuart Canada, who said, “These organizations have demonstrated innovative approaches to their governance practices – approaches that we hope will also contribute to excellence among other boards of directors.”

The winners will be recognized at the awards dinner on January 30, during which one of the three will receive Overall National Award in Governance.
-IE Staff