Our high level of integrity is reinforced at all levels in the Company. The Board of Directors and management are committed to maintaining a high standard of corporate governance to consistently earn the trust of our shareholders and other stakeholders.
Board members are our corporate stewards and supervise management. They review and approve Maple Leaf Foods’ strategic planning, financial performance and reporting, organizational structure, risk management, policies and procedures, and oversee compliance. They hold us accountable to our shareholders. All of the Board’s activities are for the purpose of preserving and enhancing the underlying value of the Company.
We have created a culture of involvement for Board members to engage in hands-on experience to facilitate meaningful interaction and deeper insights into the business. Our “Board Connect” program pairs a Director with an operating company President or senior leader in one of our businesses to work together for a day, which allows for an open flow of information.
Our Board has 9 members, of which 8 are independent of the Company and management under the securities laws. Our independent directors are very experienced, high caliber business leaders with diverse relevant skills and competencies.
The Board has a formal mandate setting out their responsibilities in the stewardship of the Company that includes the Board’s responsibilities for the appointment and development of management, strategic planning, monitoring of financial performance, financial reporting, risk management and oversight of the Corporation’s policies and procedures, communications and reporting, and compliance.
View the Mandate
Code of Business Conduct
The Board takes all steps to assure itself of the ethics and integrity of the Chief Executive Office (“CEO”) and the executive officers and ensure the appropriate ethical conduct procedures are established.
Download the Policy
Maple Leaf Foods UK Limited Tax Strategy
In accordance with United Kingdom (“UK”) income tax legislation, this page outlines the tax strategy for Maple Leaf Foods UK Limited (“the Company”), a subsidiary of Maple Leaf Foods Inc. (a Canadian corporation). Specifically, the principles and high-level objectives of the strategy are discussed. However, the outline below is not meant to detail the processes involving the execution of the strategy.
Description of United Kingdom Operations
The Company manages a pension plan for former employees of a business formerly owned by the Company.
United Kingdom Tax Strategy and Planning
The Company’s UK tax strategy focuses on accurate and timely compliance with relevant filing obligations. The Company does not engage in any artificial tax arrangements. Accordingly, all UK tax filings are meant to reflect economic reality.
Tax Risk Management
The Company has a low tax risk tolerance. Therefore, the Company does not engage in aggressive tax planning, and aims to structure its affairs to reflect commercial reality. Furthermore, the Company is committed to complying with both UK tax legislation and internal policies aimed at mitigating the Company’s tax risk exposure.
Whenever appropriate, the Company seeks professional tax advice from qualified advisors.
Relationship with HMRC
The Company is committed to an open, transparent relationship with HMRC. In particular, the Company aims to fulfill any requests made by HMRC in a clear and timely manner.