Canadian Business Uncovers The 25 Best & Worst Boards In Canada

 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. 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 
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