At Suncor, we are committed to acting with integrity in everything we do. This commitment makes up a core part of our corporate values and extends to our Board of Directors and our approach to corporate governance. We follow a robust corporate governance framework and regularly update our practices as regulations and best practices evolve. We set an example as a responsible corporate citizen and believe that strong corporate governance and transparent, ethical behaviour contribute significantly to enhanced long-term performance and improved investor confidence.
Oversight and guidance
Our Board is responsible for the overall stewardship of Suncor and protecting the interests of our shareholders and the best interests of the company as a whole. The Board is supported by several independent committees which oversee specific aspects of our business, including the Governance Committee, Audit Committee, Environmental, Health, Safety and Sustainable Development Committee and Human Resources and Compensation Committee.
Our Board’s oversight encompasses strategic planning processes, risk management, communication with investors and other stakeholders, and standards of business conduct. The Board is also responsible for selecting, monitoring and evaluating executive leadership and aligning management’s decision-making with long-term shareholder interests.
Independence, Expertise and Diversity
Our Board is comprised of experienced, skilled directors with a range of perspectives, insights and views on the issues affecting the organization. We have a diverse board with Indigenous representation for over two decades and 36% female directors. We believe that a board comprised of individuals representing diverse points of view can add greater value than a board comprised solely of directors with similar backgrounds.
We also value independence and objective thinking in making sound business decisions. Of our 11 directors, 10 are independent and the Board Chair and all committees are comprised of only independent directors. Only our CEO, Mark Little, is a non-independent director.
Our Board has extensive experience in a broad range of related industries and fields, including executive leadership, finance, risk management and environmental, health and safety. Our directors’ complementary skill sets combine to provide valuable oversight and direction as we guide Suncor towards achieving its goals and creating long-term shareholder value.