Our company is governed by an independent board, which has a diverse background in finance, business, electricity, oil and gas, energy management, regulatory affairs and technology. The Board’s governance strategy is founded on balancing the interests of a diverse set of stakeholders, while at the same time, providing benefit for the overall industry stakeholder needs.
The AESO Board is responsible for overseeing the business and affairs of the AESO. The AESO Board is actively involved in the strategic planning process and discusses and reviews all materials relating to the strategic plan with management. At least one Board meeting per year is devoted to discussing and considering the strategic plan, which takes into account the risks and opportunities of the AESO. On an ongoing basis, the AESO Board is involved in the financial oversight of all corporate operations, including cost and risk management.
The AESO Board has two standing committees:
- The Audit Committee provides consultation, advice and recommendations to the AESO Board on financial reporting matters, the system of internal controls, the systems for managing risk, the external audit process and the AESO’s process for monitoring compliance with laws and regulations, with a view to ensuring best practices are followed.
- The Human Resources, Compensation and Nominations Committee provides consultation, advice and recommendations to the AESO Board on human resources, compensation and corporate governance matters. This includes executive compensation levels, Chief Executive Officer performance, officer selection, and human resources programs (including salary planning and incentive design), current human resources practices and maintenance and enhancements to the corporate governance practices.