The purpose of the Management Resources & Compensation Committee Terms of Reference is to ensure that the responsibilities and expectations delegated to the Management Resources & Compensation Committee by the Board of Governors are clear and well defined.
The function of the Management Resources & Compensation Committee is primarily to act for the Board of Governors in considering Presidential and Vice-Presidential appointments.
Without limiting the general responsibilities as described above, the Management Resources
& Compensation Committee shall:
|1.||Review and recommend to the Board of Governors criteria for selection of the President.|
|2.||Recommend terms of reference and organizational structure of the Presidential Selection Committee.|
|3.||Oversee the Presidential Selection Committee through the process of selecting one candidate.|
|4.||Conduct an annual performance review of the President.|
|5.||Through the President, conduct an annual performance review of the Vice-Presidents (the President will report to the MRCC on the performance of Vice-Presidents).|
|6.||Approve appropriate compensation packages for the President and Vice-Presidents.|
|7.||Ensure adequate succession plans for Vice-President and Associate Vice-President positions.|
|8.||Advise and assist the Board of Governors on ways to help the President advance the strategic goals of the University.|
The Management Resources & Compensation Committee is required to report on action taken at the next regularly scheduled meeting of the Board of Governors.