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Governance
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Governance

Being transparent, ethical and accountable is critical to ATCO's long term sustainability and success. 

We don?t believe in a one-size-fits-all approach to governance. Our Board of Directors have designed and implemented a unique and effective system of checks and balances that recognise the need to provide autonomy to our various business units, while accommodating the requirements of our regulated and non-regulated businesses. 

This fit-for-purpose approach to governance has worked well over the years, providing our Board of Directors and senior management team with the foundation to create long-term value for our share owners. 

Our Board of Directors

The role of our Board of Directors has evolved alongside our business, providing oversight to an organisation with a growing global footprint and a diverse, yet complementary suite of products and services. Our Board strives to ensure ATCO's corporate governance practices provide for the effective stewardship of the company, and it regularly evaluates those practices to ensure they are keeping with the best practice. 

Key elements of our global corporate governance system include the oversight and diligence provided by the Board, the Lead Director, the Audit & Risk Committee and our Corporate Governance ? Nomination, Compensation and Succession Committee (GOCOM). Although not required by Canadian securities laws, some of our governance tools, such as the use of Designated Audit Directors, also reinforce the effectiveness and rigour of our governance model. 

Much like our business operations, the strength of our Board of Directors is due in no small part to the diverse nature of skills, talent and experience each member brings to the Board?s deliberations. 

Our Lead Director

In 1995, ATCO was among the first public companies in Canada to introduce the concept of a Lead Director. Mr. Robert J. Routs is the current Lead Director for ATCO and was appointed to this position on July 22, 2021. The Lead Director provides the Board with the leadership necessary to ensure independent oversight of management. The Lead Director is an independent director and must be a member of GOCOM. 

Designated Audit Directors

Distinctly unique to ATCO are the Designated Audit Directors (DADs) who are generally directors of either ATCO or Canadian Utilities. Each DAD is assigned to one of our Business Units to provide oversight based on their strengths and experience in various industry sectors. Each DAD meets quarterly with the relevant leadership of the Business Unit and holds annual meetings with internal and external auditors. In addition, they review the financial statements and operating results of their respective Business Unit, discuss risks with management, and report on both operating results and risks to our Audit & Risk Committee. 

Speaking Up Practice

ATCO is committed to conducting business ethically while promoting a work environment that fosters mutual respect, open communication and integrity.

Disclosures play an important role in managing corporate risks relating to misconduct and unethical behaviour.

ATCO has a Speaking Up Practice to reflect the whistle-blower protection regime in Australia, as set out in Part 9.4AAA of the Corporations Act 2001 (Cth) that has come into force.

A copy of the Speak Up Practice is available to download below.

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