Madam Speaker, since the president's March 15, 2004, announcement of a new appointment process for top executives of crown corporations, the government conducted a review of crown corporation governance.
On February 17, just last week as a matter of fact, the president tabled in the House of Commons a report entitled, “Meeting the Expectations of Canadians--Review of the Governance Framework for Canada's Crown Corporations”. This review is the most comprehensive review of Canadian crown corporation governance in 20 years.
As part of our findings, it was determined that a number of refinements to the interim process were needed to achieve a correct balance from the government's perspective as owner and shareholder of the corporations.
On boards, as in the private sector, chairs and directors represent the owner. In this case, the owner is the Canadian population through the government it elects. We believe, consistent with best practices, that the government, as representative of the owners, has to take responsibility for identifying candidates that are its representatives.
We are looking for people who are committed to the principles and values of public service and who will perform their duties with integrity. We will do so, however, in close consultation with the boards of directors, taking into account their needs.
To ensure greater transparency, we will be establishing a central website for identifying chairs and directors, accessible to all Canadians, so they can have an up to date and accurate picture of the vacancies, their selection criteria and board profiles, and a listing of appointments is the first step on this path.
The board of directors, in consultation with the government, will determine the selection process for the CEO. To ensure that potential candidates are not in conflict of interest, the government will continue to conduct background checks prior to making any appointment.
Canadians can be reassured that the appointment process for Canada's crown corporation boards of directors meets Canadians' standards and expectations of ethical conduct.