11.2 Key officers
GOCs must have a board of directors appointed by the Governor in Council pursuant to the GOC Act.1 The GOC Act provides that in appointing a person as a director, the Governor in Council must have regard to the person's ability to make a contribution to the GOC's commercial performance and, if the GOC has a statement of corporate intent, the implementation of the statement.2 The Act precludes public servants from being appointed to GOC boards.3
Each GOC must have a Chief Executive Officer (CEO) who is to manage the day to day affairs of the GOC. The GOC Act provides that a GOC's CEO is appointed by the GOC's board with the prior written approval of the Shareholding Ministers.
- Section 89(1) GOC Act
- Section 89(2) GOC Act
- Section 90 GOC Act