The mandate of the Board of Trustees is one of stewardship and oversight of CANMARC and its business. In addition to participating in the development of and approving a strategic plan for CANMARC, supervising the activities and managing the investments and affairs of CANMARC and approving major decisions regarding CANMARC, the Board of Trustees’ responsibilities include the following:
- Establishing committees of the Board of Trustees and defining their mandate;
- Defining the roles and responsibilities of management and determining executive compensation upon the recommendation of the Board of Trustees’ Compensation Committee;
- Reviewing and approving the business and investment objectives to be met by management, overseeing management and assessing its performance;
- Reviewing CANMARC’s debt strategy and identifying and managing risk exposure;
- Ensuring the integrity and adequacy of the REIT’s internal controls and management information systems;
- Succession planning;
- Maintaining records and providing reports to CANMARC’s unitholders and ensuring effective and adequate communication with such unitholders, as well as with other stakeholders and the public; and
- Determining the amount and timing of distributions to CANMARC’s unitholders.
