Company: IMO
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000049938-25-000015
Chunk: 148

Company: IMPERIAL OIL LTD
Filing Date: 2025-02-19
Form: 10-K
Item: Item 16
Chunk 148
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 the standards of these exchanges. In accordance with NYSE American LLC requirements for non-U.S. companies, the company is in compliance with NYSE American standards in all significant respects except as described on the company’s website at www.imperialoil.ca.

Composition of our board nominees

More information on diversity, including on the board and among executive officers of the company, can be found at page 149.

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Tenure of our board nominees

Our board nominees have varying lengths of tenure providing a blend of continuity and renewal that supports effective governance.

The board charter provides that incumbent directors will not be re-nominated if they have attained the age of 72, except under exceptional circumstances and at the request of the chairman. The company does not have term limits for independent directors because it values the comprehensive knowledge of the company that long serving directors possess and independent directors are expected to remain qualified to serve for a minimum of five years. 

The following chart shows the current years of service of the nominees for the board of directors and the year they would normally be expected to retire from the board. 

 Name of director nomineeYears of service on the boardYear of expected retirement fromthe board for independent directors  D.W. Cornhill7 years2026 S.R. Driscoll 2 years2034 J.N. Floren 2 years2031 G.J. Goldberg 2 years2031 N.A. Hansen 1 year— M.C. Hubbs6 years2039 J.R. Whelan (a)n/a—

(a)J.R. Whelan is being nominated for election as a director at the annual meeting of shareholders and is not currently a director.

120

Skills and experience of our board members and nominees

Our directors and nominees bring a wide range of skills, diversity and experience.

The current directors and director nominees have the experience and expertise required to ensure effective oversight, stewardship and governance of the company. The key areas of experience and skills for each of the nominees for election as directors can also be found in each of the director nominee tables on pages 112 through 116 of this circular.  

The table below sets out the diverse skill set required of the board and identifies the particular experience, qualifications, attributes, and skills of each director and nominee that led the board to conclude that such person should serve as a director of the company. 

  D.W.CornhillB.W.Corson(a)S.R. DriscollJ.N.FlorenG.J. GoldbergN.A