Corporate Governance
Elexicon Corporation believes that good governance in business leads to great outcomes. We are governed in accordance with the Business Corporations Act (Ontario) and a Unanimous Shareholders’ Agreement and provide voluntary disclosure on our corporate governance practices. We are a holding company, 100 per cent owned by five municipal shareholders: the City of Pickering, Town of Ajax, Town of Whitby, City of Belleville and Municipality of Clarington which includes Bowmanville, Courtice, Newcastle and Orono.
Elexicon Corporation
Independent Board Members

Patrick McNeil
ICD.D
Chair,
Independent Director

Ron Chatterton
C.Dir
President,
Niche Advantage Consulting Ltd.

Jim Macpherson
President,
Macpherson & Associates Inc.

Brian Mountford
Independent Director

Doug Parker
CPA-CMA
Independent Director

Lesley Rose
Senior Director CFS Finance, Senior Commercial Markets, RBC Financial Group
Shareholder Board Members

Shaun Collier
C.Dir
Mayor,
Town of Ajax

Adrian Foster
Mayor,
Municipality of Clarington

Don Mitchell
Mayor,
Town of Whitby

Mitch Panciuk
Mayor,
City of Belleville

Ian Cumming
Councillor,
City of Pickering,
(Mayor’s Designate Until Sept. 2021)

Kevin Ashe
Reginal Councillor,
City of Pickering,
(Mayor’s Designate Since Oct. 2021)
Committees
Audit, Finance & Risk Committee
The Audit, Finance & Risk Committee reviews the Annual Financial Plan, financial statements, accounting practices and policies, auditing processes and the results of internal and external audits and related matters. It also oversees financial risk management and assesses internal controls.
Nominating Committee
The Nominating Committee, comprised solely of independent directors, with the assistance of outside consultants, identifies and evaluates potential candidates for appointment as Directors.
Governance Review Committee
As provided for in our Unanimous Shareholder’s Agreement a committee was struck to review the appropriateness of the Elexicon Governance structure and composition.
Ad Hoc Divestiture Committee
As a result of one of our major shareholders expressing its wishes to sell its shareholding in Elexicon, an ad hoc divestiture committee was established to oversee the sale process and manage Elexicon’s response to it.
Financial Performance
Elexicon Corporation had strong financial performance in 2021 and provided shareholder municipalities healthy dividends.
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