NEWS RELEASE TRANSMITTED BY CCNMatthews FOR: CANADIAN BUSINESS AUGUST 7, 2002 Canadian Business Uncovers The 25 Best & Worst Boards In Canada TORONTO, ONTARIO-- 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 dead last. 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. /T/ 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 Communications Corp. /T/ 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. -30- FOR FURTHER INFORMATION PLEASE CONTACT: Canadian Business Colin Hunter (416) 596-3494 or Canadian Business Sarah-Jane Pearce (416) 596-5376 INDUSTRY: MED SUBJECT: NWS -0- -0- Aug/07/2002 13:30 GMT
Canadian Business Uncovers The 25 Best & Worst Boards In Canada
Press spacebar to pause and continue. Press esc to stop.