Board of Directors
The Board has established a position description, which describes and communicates performance expectations of a director, and provides a benchmark for developing an approach to director assessment and evaluation. Directors are expected to devote the necessary time to Board matters. This includes participating on Board committees, spending adequate time to prepare for and attend Board and committee meetings, being an available resource to the Board and management, and taking part in director education sessions.
Chair of the Board
The Chair reports to the board of directors of Freehold Resources Ltd. (the Board) and to the Unitholders, and provides leadership to the Board in matters relating to the effective execution of all Board responsibilities. The Chair will be an independent director.
Committee Chairs
The board of directors of Freehold Resources Ltd. (the Board) will carry out its mandate directly and through three standing committees of the Board (Audit, Compensation, Governance, and Reserves), and such other committees as it appoints from time to time. Each committee functions according to a written mandate approved by the Board. The Governance Committee will review and assess the adequacy of the committee mandates on an annual basis. The committee chair is appointed by the Board, reports to the Board and provides leadership in the effective execution of all committee responsibilities.
Chief Executive Officer
The Board has established a position description to identify the specific responsibilities of the President and Chief Executive Officer (CEO) of Freehold Resources Ltd. and to enhance coordination and communication between the CEO and the board of directors of Freehold Resources Ltd. (the Board). The day-to-day operations of the Trust are managed by an external Manager, under a management agreement. Freehold pays a management fee (in Trust Units) to the Manager. The CEO is an employee of the Manager and CEO compensation is determined and paid by the Manager.