Ecora Resources is committed to upholding high corporate governance standards as a standard listed company on the London Stock Exchange
We aim to optimise the mix of skills, experience, diversity and perspectives necessary for Ecora Resources to achieve its strategic objectives now and in the future.
N.P.H. Meier
Chairman
Ecora Resources is committed to upholding high corporate governance standards as a standard listed company on the London Stock Exchange.
In addition to complying with rules and regulations relevant to our listing status, we also voluntarily observe additional governance standards to maximise shareholder value. Our Board supports the principles and provisions of the UK Corporate Governance Code ('the Code') issued by the Financial Reporting Council and we adhere to the requirements of the Code on a voluntary basis.
Given Ecora Resources is not an operator of the operations underlying our portfolio of royalties and streams and we operate solely within office environments, our policies and governance framework are drafted to reflect our business model and office environment. As a provider of financing to the mining sector, we do not have direct operational control of any mining operations. Accordingly we do not disclose information more akin to operations in relation to our corporate activities such as safety statistics, biodiversity and land use, and toxic emissions and waste.
The Company’s governance is structured to deliver an entrepreneurial Board, which successfully establishes and maintains the Company’s performance and internal control environment. We ensure that our internal controls are robust by regularly assessing the effectiveness of our policies and procedures, including those relating to environmental, social and governance issues, both internally and with respect to our mining partners. Our Board and employees are committed to championing and embedding the Company’s purpose, values and standards, which are set out in our Code of Conduct. Our employees are instrumental to our success, and we respect and value the individuality and diversity that every employee brings to the business.
Board governance structure
Chairman
Mr. Meier leads the Board, shaping the culture of the boardroom to ensure the Directors function effectively as a team. His main responsibilities include: chairing the Board and Nomination Committee and setting their agendas; Board composition encompassing Director performance, induction, training and development and succession planning; supporting the Chief Executive Officer and his team; engagement with external stakeholders; and attendance by the Board at shareholder meetings.
Senior Independent Director (SID)
Mr. Rutherford has served as the Board’s SID since January 2020. He acts as a sounding board for the Chairman and engages with shareholders to develop a balanced understanding of their interests and concerns. The SID leads the annual review of the performance of the Chairman and is available to meet with shareholders as required.
Independent non-executive Directors (NEDs)
The role of the NEDs is to support, constructively challenge, and provide advice to executive management; effectively contribute to the development of the Group’s strategy; scrutinise performance of management; and monitor the delivery of the Group’s strategy.
Chief Executive Officer
Mr. Bishop Lafleche formulates and leads the implementation of the Group’s strategy as agreed by the Board, chairs the Executive Committee through which he carries out his duties and oversees corporate relations with shareholders and other stakeholders. He has overall responsibility for the Group’s sustainability policy and practices.
Chief Financial Officer
Mr. Flynn is a member of the Executive Committee and plays a key role in the overall management and direction of the Group in partnership with the Chief Executive Officer. He is responsible for devising and implementing the Group’s financial strategy and policies.
Board Committees
Nomination Committee
Responsible for the composition of the Board ensuring an optimum mix of skills and experience; succession planning for the Board and senior management; annual effectiveness evaluation of the Board, Committees and individual Directors.
Audit Committee
Oversight of financial reporting, audit, internal control and risk management.
Sustainability Committee
Responsible for the development and implementation of the Group’s sustainability strategy and overseeing sustainability issues including environment, climate change and social performance.
Remuneration Committee
Designs the Group’s overall remuneration strategy and policy. Sets the remuneration of the Executive Directors, the Chairman, and senior management and considers the remuneration policy for the wider workforce.
Chief Executive Officer
Executive Committee
Supports the Chief Executive Officer in fulfilling his duties. Responsible for formulating strategy, setting targets/budgets and managing the Group’s portfolio of royalties and streams.
Matters reserved for the Board
In the interests of efficient running of any company it is often necessary for the board of the company to delegate certain of its responsibilities to others. Matters which the Company considers suitable for delegation are contained in the Terms of Reference of its Committees. However, it is important for the Board to be clear about those matters which are required to be, or in the interest of the Company should be, decided by the Board as a whole.