MESSAGE FROM CHAIR OF THE BOARD Bob Phillips
Our results once again reflect the progress our team has made to create momentum and advance our transformative strategy, and the tremendous dedication of our people and their commitment to help our clients achieve their financial goals. Your Board continues to provide comprehensive risk and governance oversight as CWB positions ourselves to capitalize on emerging trends in our industry. We fully support management as they execute CWB’s winning strategy to deliver the best full-service bank for business owners in Canada. TALENT IS KEY TO OUR SUCCESS As a Board we oversee succession planning across our senior management and executive teams to ensure we have a diverse and inclusive culture. Our commitment to renewal ensures that your Board is comprised of strong directors with diversified backgrounds, experiences, perspectives, and skills. This year we welcomed two outstanding directors to the Board who bring unique experience and expertise that are valuable in delivery of our strategic direction. Dr. Marie Delorme is a successful entrepreneur, philanthropist and an Order of Canada recipient known for her work with Indigenous economic development and women’s leadership. Mr. Irfhan Rawji brings extensive experience with innovative technology and venture capital backed companies. With these two new members, I am proud to say 46% of your board is constituted of women and 15% Black, Indigenous or racialized persons.
Another key area of focus for your Board is to provide oversight to all aspects of sustainability, which includes ESG factors. We are highly committed to lead by example in how we live our values. With the support of the Board, management designed and launched a phased implementation of the recommendations from the Task Force on Climate-related Financial Disclosures (TCFD). Management also designed and launched a Sustainability roadmap, which will guide our proactive and strategic approach to all aspects of ESG. We are committed to ongoing discussion and review of sustainability issues to provide oversight and support to management in execution of the roadmap. On behalf of the Board, I want to express my confidence and gratitude to the Executive team for their unwavering commitment to our success and thank every CWB team member who has worked tirelessly to ensure we create long- term value for all our stakeholders. I also want to express appreciation to my fellow shareholders for their ongoing support and to our clients for the opportunity to be their full- service financial provider.
Robert Phillips Chair of the Board
THANK YOU RAY, FROM CWB This year Mr. Ray Protti retired after 12 years on our Board. With his extensive background, he provided a level of judgment and advice that was of significant benefit to the Board and management. Thank you, Ray, you were a terrific director throughout your tenure and your contributions will be missed.
8 | CWB Financial Group 2021 Annual Report
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