The Corporate Governance Committee of the Board is responsible for the composition, compensation and governance of the Board, and recommends to the Board nominees for election or appointment to the Board. The Corporate Governance Committee reviews and recommends for approval by the Board a set of corporate governance principles for NOVA Chemicals. In addition, the Corporate Governance Committee identifies issues to be discussed at Board and committee meetings to enable the Board to make informed and timely decisions.

The Corporate Governance Committee reviews on an annual basis the general and specific criteria applicable to candidates to be considered for nomination. The objective of this review is to maintain the composition of the Board in a way that provides the best mix of skills and experience to guide the long-term strategy and ongoing business operations of NOVA Chemicals. The Corporate Governance Committee also advises the Board on the criteria for, and determination of, the independence of each director. The Corporate Governance Committee also assesses the effectiveness of the Board, its committees and individual directors.

Corporate Governance Committee Mandate