Governance

Every day our collective commitment towards the values of integrity, respect and perseverance is reflected in our actions. With their vast experience, our Board of Directors and its Standing Committees establish the practices and responsibilities that help the company achieve its goals and maximize sustainable shareholder value while considering our responsibilities as a good corporate citizen to all stakeholders.

Board at a glance

As of August 10, 2022

44%

Female director representation

exceeding the Diversity Policy’s 30% minimum and meeting the target commitment for two consecutive years

30%

44%
Women

Female Male
GENDER DIVERSITY

50%
Women

Female Male
Board Commmittees chaired by Women

56% outside
of Canada

CAN USA GER
Nationality

Governance Practices

The Board must have a majority of independent directors. As of the date of this report, all directors except our CEO are considered to be independent.
Annual election of directors including our third annual “say-on-pay” vote was held at May 5, 2022 AGM as a mechanism for shareholders to cast an advisory vote on our approach to executive compensation.
Our director orientation program was taken to support the onboarding of two new members of the Board in 2021 and 2022, respectively. The orientation was hosted virtually, with presenters from the Board, executive management and outside legal counsel.
Directors participate in continuous learning activities as part of the company’s Continuing Education Program, which is overseen by the Nominating and Corporate Governance Committee.
Our Board Committee Charters were updated in March 2022 to embed ESG responsibilities for the Human Resources and Compensation Committee, Nominating and Corporate Governance Committee and Technical and Product Strategy Committee. Proposed ESG edits to the Audit Committee Charter were put forward; however, the Committee will provide an update in 2023 as it considers amendments that align to new and proposed SEC/CSA/CSRD regulations which include significant updates to ESG reporting.

More information about our governance practices can be found in our 2021 Management Information Circular.

✖

Business ethics and human rights

Our values of integrity, respect and perseverance guide our relationships and interactions with employees, customers, suppliers and investors. These values are fundamental to our business partnerships and continued success in the marketplace and are a source of pride for our team.

Our Code of Conduct (“Code”) sets out the principles, rules and expectations for conducting business to the highest of standards, openness, honesty and accountability, and guides our decisions and actions. It’s designed to help our global team comply with applicable laws, regulations and company policies; maintain the highest standard of ethical conduct; and avoid even the appearance of anything improper in connection with our business activities. All directors, officers and employees receive annual Code training and certification that is tailored to their respective roles. The Code is disclosed on our website at https://wfsinc.com/about/commitment-to-integrity

Along with the Code, our Anti-Corruption and Prevention of Bribery Principles and our Whistleblower Policy promote integrity and ethical behaviour and encourage employees to report any potential violations of our policies without fear of reprisal. Individuals can report violations directly to management or in confidence to an anonymous ethics hotline using a 24-hour phone line, email addresses (for a variety of contacts), web portal submission or by physical mailing address.

2021 Human Rights Policy

As an organization, we have always maintained the highest standards related to human rights; however, the creation of a stand-alone Board-approved Human Rights Policy was a key step in our focus and resolve on this important topic. The policy allows us to strengthen and embed our ESG commitment across multiple areas of our operations including human resources, supply and value chains, and responsible sourcing, which further bolsters our commitments in the social sphere.

For more information please read the Business Ethics and Human Rights section of our report here.

Read the 2021 ESG Report
View our previous ESG Reports

Learn More, Get Engaged

We are always looking for ways to continuously improve and enhance transparency in the way we do business. Your time in reviewing our progress is appreciated and your feedback or inquiries are welcome. If you have any suggestions or feedback for us either on this year's specific sustainability report or on future reports, please reach out to us in the below form or at sustainability@wfsinc.com

Governance Policies

Board of Directors

Read More

Commitment to Integrity

Read More

Committee Composition and Charters

Read More

Our Brands

  • AFS
  • BRC Gas Equipment
  • EMER
  • gfi control systems
  • Westport HPDI
  • OMVL
  • Prins
  • Stako
  • TA Gas Technology
  • Valtek
  • Zavoli