Corporate Governance

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ROLE/TERMS OF REFERENCE

Nature: In many countries the attention on global governance surged at the time of the international financial crisis in 1997.  Between 1996-1999, Jamaica experienced its own crisis with a colossal downfall of the Financial Sector, which raised concerns of reporting relationships and accountability of management and Directors to stakeholders.

In light of such concerns, the PSOJ established the Corporate Governance Committee with a mission to become the key influencer in the delivery and adoption of corporate governance best business practices by providing access to knowledge and learning resources for our members and leaders of business enterprises so they can effectively compete in the global market.

Terms of Reference:  The strategic objectives are:

i)        To develop and establish corporate governance guidelines that will facilitate implementation of best practices through a Code on Corporate Governance.

ii)       To conduct director training programmes

iii)     To promote awareness of corporate governance principles and the impact that well implemented principles can have on investor confidence.

iv)     To provide continuing public education and awareness of corporate governance best practices.

v)      To make corporate governance knowledge resources accessible to relevant stakeholder groups.

vi)     To collaborate on a continuing basis with other associations and agencies locally and regionally on corporate governance issues.

vii)   To influence and comment upon any corporate governance policy issues and assess their impact on the business environment.

 

MEMBERSHIP                      

The committee comprises corporate leaders, personnel from financial regulatory bodies, accounting professionals, members of the legal fraternity and academia which afford the committee the expertise to address all aspects of corporate governance with confidence and efficiency.

Miss Greta Bogues(Chair) Representing J. Wray & Nephew
Mr. Alastair MacBeath
Mondial
Mr. Christopher Bovell
DunnCox
Mr. Garth Kiddoe
Institute of Chartered Accountants
Mrs. Suzanne Goldson
University of the West Indies, Faculty of Law
Mrs. Tracey Campbell
PriceWaterHouseCoopers
Major Hugh Blake
Kingston Industrial Garage Limited
Mr. David Hall
Institute of Internal Auditors
Mr. Patrick McDonald
Hart, Muirhead & Fatta
Mrs. Gina Phillips Black
Myers, Fletchers & Gordon
Senator Kamina Johnson-Smith
LIME
Mrs. Loretta Reid-Pitt Financial Services Commission
Mrs.Marlene Street-Forrest Jamaica Stock Exchange
Mr. Hugh Thompson Representative for Small Business Association of Jamaica
Mr. Howard Haughton Holistic Risk Solutions Limited

Quorum:                                 

The quorum for all Committees is one third of the full membership plus one, in cases where is an even number.  In this case the quorum is five (5) members.

Procedures:     Determined by itself

Frequency of meetings:    The Committee shall meet on call of the Chairman, no less than nine (9) sessions for the calendar year.  At the Chairman’s discretion, the Committee may also conduct meetings via round robin or conference calls.

List of sub-committees:  

  1. Awards Sub-Committee
  2. Code Revision Sub Committee

 

Term of Office:                      The term of office is three years and is renewable.

Persons in Attendance:          As invited by the Chairman

Secretariat:                           Office of the CEO

 

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