NEWS RELEASE TRANSMITTED BY CCNMatthews
FOR: CANADIAN BUSINESS
AUGUST 7, 2002
Canadian Business Uncovers The 25 Best & Worst Boards In
What do a bank and oil company have in common? Two great boards of
directors. Royal Bank of Canada and Petro-Canada came out on top
on Canadian Business' 2nd annual controversial ranking. Quebecor,
with a dismal -35% three-year return on investment, clocked in
Questionable accounting, poor corporate governance and allegations
of fraud have hurt investor confidence. Where was the board,
investors are asking, when Nortel imploded or Enron collapsed?
Which boards can shareholders trust to protect their interests_and
which ones should send up red flags?
Best & Worst Boards ranks the 25 best and 25 worst boards of
directors in Canada. What did we look at? We divided the criteria
into four weighted categories: independence (worth 10 points, or
25%), accountability (14 points, or 35%), disclosure and board
performance (6 points, or 15%) and share performance (10 points,
or 25%). We awarded positive points for good behavior or
structures and deducted points for clear examples of bad
governance. A conscientious, well-performing board can receive a
perfect score of 40 points. Companies with less-than-sterling
boards can go as low as -25.
Best 5 Boards Worst 5 Boards
1. Petro-Canada 1. Quebecor
1. Royal Bank of Canada 2. Dundee Bancorp Inc.
3 Finning International Inc. 3. Dorel Industries Inc.
4. Enbridge Inc. 4. TrizecHahn Corp.
5. Dofasco Inc 5. CanWest Global
The full report of Best & Worst Boards In Canada appears in the
August 19, 2002, issue of Canadian Business, on newsstands now.
Visitwww.canadianbusiness.com for the full story. The editorial
staff is available for more information.
Canadian Business is Canada's leading business magazine, offering
timely reports on events in Canada's business community. With a
readership of more than 1.1 million, the magazine is published
every second Monday except in January and July, when monthly
issues are published. Special annual issues of Canadian Business
include the Investor 500, the Rich 100, the MBA Report, the
Discount Brokerage Survey and the Tech 100.
FOR FURTHER INFORMATION PLEASE CONTACT:
-0- Aug/07/2002 13:30 GMT
Press spacebar to pause and continue. Press esc to stop.