The FBCL Board of Directors is appointed by the Governor in Council on the recommendation of the Minister of Transport. The board functions according to the best governance principles existing in the public and private sectors. Board members act as stewards of the Corporation. The President and Chief Executive Officer of the Corporation is assisted on the Board by three Directors.

In accordance with sound governance practices, the committees of the Board ensure that all significant measures and initiatives are carefully vetted before the full board has an opportunity to review a matter at hand. Well-established committees exist in the areas of audit, risk management, governance, environment and human resources. A nominating committee has also been established to investigate and recommend appointments and renewals to the Board as well as to the subsidiary boards.

Relationship with Subsidiaries

Over the last few years, FBCL has invested significant efforts to maintain the effectiveness of the relationships with the subsidiaries.

The respective roles, responsibilities and obligations of each entity follow a framework based on the Agency Model which covers dimensions related to governance, strategic planning and evaluation, information management and human resources management. This framework is balancing the legal reality that subsidiaries are distinct legal entities (as opposed to branches) with the need to ensure compliance and strategic alignment of these entities with corporate objectives and reflects the leading practices of the private and public sectors.