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.
Independent Board Members
Niche Advantage Consulting Ltd.
Macpherson & Associates Inc.
Senior Director CFS Finance, Senior Commercial Markets, RBC Financial Group
Shareholder Board Members
Town of Ajax
Municipality of Clarington
Town of Whitby
City of Belleville
City of Pickering,
(Mayor’s Designate Until Sept. 2021)
City of Pickering,
(Mayor’s Designate Since Oct. 2021)
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.
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.
Elexicon Corporation had strong financial performance in 2021 and provided shareholder municipalities healthy dividends.Read More