Monthly Archives: October 2016

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Much ado about little

Both of Canada’s current signature international trade pacts are foundering just shy of completion. But given the paltry contributions the TPP and CETA are expected to make to our economy, should anyone care?
By Ian McGugan
October 11th, 2016

Can you hear the gnashing of teeth in Ottawa? Both of Canada’s flagship trade initiatives are in trouble and all the usual suspects are predicting problems as a result. Without the Trans-Pacific Partnership (TPP) to help Canadian exports expand in … Continue reading

Posted in Economy, Handbook | Tagged , , , , , , , ,

Insider trading: are your practices onside?

The OSC has introduced new rules on insider trading. Here’s some advice to make sure your company’s internal guidelines for directors, officers and employees are not only up to date—but the best that they can be
By Poonam Puri
With Patricia Olasker
October 11th, 2016

Consider this: a senior officer of a Canadian public company learns that the company has just received a significant, unsolicited bid, suggesting that the company could be in play. He calls his accountant and says: “Buy shares in my company … Continue reading

Posted in Views | Tagged , , , , , ,

CEO coaching: lessons from the trenches

If CEO behaviour is a problem, coaching is a must. But coaching has also contributed directly to the success of some of the country’s best CEOs. For every board, it is a wise investment
By Richard Leblanc
October 11th, 2016

Alcohol problems, sexual misconduct, financial misconduct, defensiveness, toxicity, berating of senior management and directors, litigation, bullying: there is not much I have not seen when I am called in to coach the CEO. And CEO misbehaviour happens at the highest … Continue reading

Posted in Views | Tagged , , ,

Defusing share buyback anxiety

Investors are watching closely to see how companies deploy their cash, wary of schemes that inflate executive pay. But it needn’t be stressful, as long as boards get a few things right
By Ken Hugessen
With Michelle Tan and John Skinner
October 11th, 2016

The challenges of prioritizing long-term value creation over short-term returns has intensified in recent years and now impacts a wide range of topics, including executive compensation. The significant increase in share buyback activity in the U.S. (US$166 billion in the … Continue reading

Posted in Views | Tagged , , , , , ,

How to avoid pitfalls in CEO succession

Managing and mitigating leadership risk through the hiring of the right CEO is the board’s No. 1 job. A thorough process, alert to bias, fills the bill
By John Caldwell
October 11th, 2016

Witnessing the 2016 U.S. election campaigns from north of the 49th parallel brings a whole new meaning to leadership risk. Bizarrely, 24 months of intense campaigning and billions of dollars later, the U.S. electorate will choose their leader from two … Continue reading

Posted in Views | Tagged , , ,

Confronting the road next taken

Strategic reviews? Sometimes they’re a company’s do-or-die moment. At minimum, change is afoot. We asked veterans of the process to tell us what to get right and what not to get wrong
By Paul Brent
October 11th, 2016

In good times and bad, whether the economy and markets are up or down, there appears to be no shortage of companies calling for a public timeout. The infamous “strategic review” can be called because the business is running out … Continue reading

Posted in Handbook | Tagged , , , , , , , , , ,

The board’s role in executive talent oversight

Yes, it’s the CEO’s job to hire senior executives. But it is very much a board’s responsibility to ensure there is a continuity of talent in place to protect shareholder interests
By Beverly Behan
October 11th, 2016

Executive succession and talent development are issues that frequently fall to the bottom of board priorities—that is, until the board starts CEO succession planning in earnest and discovers that the internal pool isn’t quite what they thought or, worse yet, … Continue reading

Posted in The Boardroom | Tagged , , ,

Diversity’s future less than clear

Despite new OSC regulations, the proportion of women directors and senior executives on TSX-listed companies in 2016 is unchanged from 2015. What will it take to move the dial?
By Listed staff
October 10th, 2016

Here’s a free tip for any member of the board or senior management of a TSX-listed company. Steer clear of fortune-tellers unless you can bear to hear the following: “I see quotas in your future.” Not tomorrow, not next year, … Continue reading

Posted in Ticker, Top Stories | Tagged , , , , , , , , , ,

The bottom line comes full circle

Triple bottom line was a great concept. But as investors clamour to include ESG (environmental, social and governance) factors in their decision-making, a new era of harmonized reporting—effectively, a single, integrated bottom line—is nigh
By John Greenwood
October 10th, 2016

“History will judge today’s effort as pivotal,” said U.S. president Barack Obama, as he and Xi Jingping, the president of China, ratified the Paris climate accord in early September. If the comments sounded auspicious, they are. That the leaders of … Continue reading

Posted in Features, Top Stories | Tagged , , , , , , , , , , , , , , , , , , , , , , , ,

Good quarterly earnings releases pay dividends

Observe the three Cs of a great earnings release—clarity, context and consistency—and your reporting will be remembered for the right reasons, even if your actual results are best left forgotten
By Chaya Cooperberg
October 10th, 2016

Writing an effective earnings announcement is challenging enough when financial results meet expectations, and abjectly painful when management needs to explain a miss or temper its outlook. No wonder these documents come under such scrutiny: CEOs and CFOs labour over … Continue reading

Posted in Views | Tagged , , , , , ,

Beware the weakest link

As business ecosystems become more integrated and the number of third-party partners and suppliers grows, supply chain risk should be a top-line agenda item for directors and management alike. Our report, with a five-step guide for boards, can help
By Jim Middlemiss
October 10th, 2016

When the world’s seventh-largest container shipping line, Hanjin Shipping Co., filed for bankruptcy protection at the end of August, it left retailers, manufacturers and resource companies around the world scrambling and fearing the worst. Dozens of container-ships and tankers carrying … Continue reading

Posted in Features, Top Stories | Tagged , , , , , , , , , , , , , , , , , , , , , ,

Brexit: should we care in Canada?

The immediate impact of the Brexit vote on UK, European and world economies has been largely negative. But when it comes to the long-term implications here, expectations vary with the viewpoint
By Robert Olsen
With Andrew Luetchford and Paddy Farrant
October 10th, 2016

On June 23rd, the electorate of the United Kingdom voted in a referendum to leave the European Union, opting for “Brexit.” The impact on the global economy has been predominantly negative, and Canada has not been immune. In the aftermath … Continue reading

Posted in Views | Tagged , , , ,

Met your match?

A simple guide to the tricky economics driving today’s top companies
October 10th, 2016

A traditional business challenge is to reach customers. Matchmaker businesses do something else: they bring different groups of customers together, providing value through their network or their platform. It’s not a new concept—think magazines or shopping malls—but it is one … Continue reading

Posted in Handbook | Tagged , , ,

Mining: still down, but no longer out

The good news? The sector’s brutal, four-year decline is history. The bad? The hole’s still mighty deep
By Ken Mark
October 10th, 2016

“A small ray of light.” Ask David Poynton, president and CEO of Toronto-based Daycon Minerals Corp., a tiny, privately held junior copper-silver explorer, for his take on the mining sector’s apparent rebound in 2016, and you’d be hard-pressed to call … Continue reading

Posted in Ticker | Tagged , , , ,

Jean-René Halde: An open playbook

In The Director’s Chair with David W. Anderson: Sports teams thrive on trust among teammates. Successful boards and board-chair-CEO relationships work the same way, says veteran CEO and director Jean-René Halde
October 9th, 2016

Jean-René Halde is the first one to say he doesn’t have all the answers. But it’s clear from his varied and illustrious career as a CEO, board chair and director, and from his remarks in the following conversation with governance … Continue reading

Posted in The Director's Chair | Tagged , , , , , ,
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