Company: IMO
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000049938-25-000015
Chunk: 224

Company: IMPERIAL OIL LTD
Filing Date: 2025-02-19
Form: 10-K
Item: Item 16
Chunk 224
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 strategy (Strategy development)

•Experience with environmental, health, community relations and/or safety policy, practices and management (Environment and sustainability)

Other Expertise

•Audit committee financial expert

•Expertise in financial matters (Financial expertise)

•Expertise in managing relations with government (Government relations)

•Expertise in information technology and cybersecurity oversight (Information technology / Cybersecurity oversight)

•Expertise in executive compensation policies and practices (Executive compensation)

•Expertise in oversight of risk management policies and practices (Risk management)

In addition, the nominations and corporate governance committee may consider the following additional factors:

•possessing expertise in any of the following areas: law, science, marketing, administration, social/political environment or community and civic affairs; 

•individual competencies in business and other areas of endeavour in contributing to the collective experience of the directors; and

•providing diversity in age, regional association, gender and other diversity elements (including Indigenous peoples, persons with disabilities and members of visible minorities).

The nominations and corporate governance committee shall then assess what work experience and other expertise each existing director possesses.  The nominations and corporate governance committee shall identify individuals qualified to become new board members and recommend to the board the new director nominees. In making its recommendations, the nominations and corporate governance committee shall consider the work experience and other expertise that the board considers each existing director to possess and which each new nominee will bring.  The nominations and corporate governance committee may also consider the additional factors noted above and any other factors which it believes to be relevant.

A candidate may be nominated for directorship after consideration has been given as to his or her degree of compatibility with the following criteria, i.e., as to whether he or she:

•will not adversely affect the requirements with respect to citizenship and residency for the directors imposed by the Canada Business Corporations Act;

•will not adversely affect the corporation’s status as a foreign private issuer under U.S. securities legislation;

•possesses the ability to contribute to the broad range of issues with which the directors and any one or all of the committees of directors must deal;

•will serve on the boards of other public companies only to the extent that such services do not detract from the director’s ability to devote the necessary time and attention as a director;

•is able to devote the necessary amount of time to prepare for and attend all meetings of the directors and committees of directors, and to keep abreast of significant corporate developments;

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•is free of any present or apparent potential legal impediment or conflict