The Human Resources And Compensation Committee. The Human

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The Human Resources and Compensation Committee
The Human Resources and Compensation Committee consists of three or more directors who must all be outsiders, unrelated and independent with one of the members of the Committee. This committee is responsible for any appointments, promotions, terminations and performance assessments for senior leadership team to include the CEO, monitors the succession plan developed and executed by CEO, approve pension plans for the organization, and reports on occupational health and safety matters. The committee does include the CEO but when matters of CEO compensation are discussed it mandates that the CEO must leave the meeting (Human Resources and Compensation Committee Charter, n.d.).
The Finance and …show more content…

Bombardier attempted to work with a non-family CEO on a previous occasion but that CEO lasted only two years before he was replaced by a family member.
The Governance and Nominating Committee is required to monitor and set guidelines relating to the Boards access to information and management. In the Bombardier executive environment these guidelines are challenging to monitor and control due to the family control of the Bombardier and the lack of truly independent board members. It is further complicated by having members of the family holding other executive and c-suite positions through the organization.
Bombardier and Outside Auditors
The independent auditing firm for Bombardier is Ernst and Young. The independent auditor has direct access to the Audit Committee and has the right to attend all meetings of the Audit Committee, unless there is a private session. The responsibility of the independent auditor includes preparing the annual audited consolidated financial statements and conducting a quarterly financial review, and making recommendations to strengthen the internal accounting and financial controls of Bombardier. The independent auditor also determines if Bombardier 's financial statements are complete and accurate and are in accordance with generally accepted accounting principles. The audit committee reviews

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