Governance

Maxxam is a private, Canadian owned company with a proven track record for strong governance.  In 2006, Maxxam was awarded the Conference Board of Canada/Spencer Stuart 2006 National Award in Governance for both private and public sectors. 

We continue with this commitment to the high standards of governance having a dedicated Board of Directors with independent directors.  Moreover, Maxxam maintains a consistent track record around the high standards of audited financial statements and reporting.

Maxxam’s Board of Directors assumes accountability for the success of the enterprise by taking responsibility for Maxxam’s failure and success. The Board’s overall goals are to maximize long-term shareholder value and provide oversight and support such that Maxxam conducts its business in a highly ethical manner; to create an environment that respects and values all employees; and, to promote corporate responsibility.

Specifically, the Board’s responsibilities include:

  • Approving a corporate philosophy and mission
  • Selecting, monitoring, evaluating, compensating, and – if necessary – replacing the CEO and other senior executives, and overseeing management succession
  • Providing guidance for, reviewing and approving management’s strategic and business plans, including developing in-depth knowledge of the businesses being served, understanding and questioning the assumptions upon which such plans are based, and reaching an independent judgment as to the probability that the plans can be realized.
  • Reviewing and approving Maxxam’s financial objectives, plans, and actions, including significant capital allocations and expenditures.
  • Reviewing the principal risk exposures of the Corporation
  • Reviewing and approving material transactions not in the ordinary course of business
  • Monitoring corporate performance against the strategic and business plans, including overseeing the operating results on a regular basis to evaluate the extent to which the business is being properly managed, the business and liquidity are sufficiently stable, and management is prepared for contingencies.
  • Requiring ethical behavior and compliance with laws and regulations, auditing and accounting principles, and the Corporation’s own governing documents
  • Performing such other functions as are prescribed by law or assigned to the Board in the Corporation’s governing documents