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News Releases News release 03-43 CORPORATE GOVERNANCE LEADERS SUPPORT NEW COLLEGE FOR DIRECTORS HAMILTON, ON, August 5, 2003 - Three leading advocates of corporate director education today announced their support for The Directors College*, Canada's only accredited professional development program for directors. The Ontario Municipal Employees Retirement System (OMERS), The Society of Management Accountants of Canada (CMA Canada), and the Canadian Coalition for Good Governance spoke out in favour of The Directors College, a joint venture of The Conference Board of Canada and the DeGroote School of Business at McMaster University. "The Directors College should contribute significantly to the reinforcement of the educational background of board members, something we strongly support at OMERS," said Dale Richmond, President and CEO of OMERS. "The program is well thought out, the content is comprehensive - both board members and corporations will benefit from The Directors College." CMA Canada has confirmed its participation as the second national sponsor of The Directors College. Ernst & Young's sponsorship was announced July 24. "We see our involvement in The Directors College as a major investment in corporate governance education," said Bob Dye, President and CEO, CMA Canada. "The program addresses not only formal board practices, but also less-defined elements of such as risk assessment, performance measurement, and the dynamics of board behaviour. From the management accounting perspective, these elements are critical to enhancing the skills of directors and ensuring corporate accountability. It is very exciting for us to be involved in getting this initiative off the ground." As well, David Beatty, Managing Director of the Canadian Coalition for Good Governance, said today that the Canadian Coalition for Good Governance strongly supports The Directors College initiative. "Our strategy is to raise the horizons and potential of directors by deepening and enriching their knowledge and application of advanced skills," said Mr. Beatty. "Increasing the effectiveness of existing directors and broadening the pool of potential directors will contribute to the professionalism of boards across Canada." The Directors College has several unique features. It is independent of the corporate director community, and has a diverse faculty that will bring fresh perspectives to the program. The curriculum addresses the formal rules and requirements faced by directors, but also places emphasis on the "soft side" of director performance - board dynamics, board behaviour, and the interplay between the board and management. The program also explores the relationship between governance and corporate social responsibility. The inaugural course takes place in Niagara-on-the-Lake, Ontario, in November. Spaces are filling for both the November program and the next offering in February 2004. The program consists of five sessions, with each session taking two days to complete. The curriculum covers subjects such as governance best practices, strategic thinking, conflict and risk management, compliance, ethics, financial control, executive compensation, and organizational behaviour. The emphasis will be on experiential learning and practical insights. Participants who successfully complete the competency-based curriculum will obtain an accredited Chartered Director* (C.Dir)* certification. Participants who choose not to seek formal certification are also welcome, and would not be required to cover the full curriculum. Information about registering for The Directors College may be obtained at www.thedirectorscollege.com. -30- *"The Directors College", "C.DIR", and "Chartered Director" are official marks of McMaster University. FOR MORE INFORMATION: Joe Barbera, Media Relations, McMaster University Patricia Trott, Senior Communications Advisor, OMERS David Fletcher, Vice-President, Public Affairs, CMA Canada Hugh Cameron, Franklin Templeton Investments, for Canadian Coalition for Good Governance, Tel.: (416) 957-6099
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