CU has developed an effective system of corporate governance that has evolved to meet the challenging requirements of providing comprehensive oversight to an organization with a diverse number of distinct principal operating subsidiaries.
The Board of Directors views effective corporate governance as an essential element for the ongoing well-being of the Corporation and its shareholders. The Corporation strives to ensure that its corporate governance practices provide the effective stewardship of the Corporation and evaluates its practices on an ongoing basis.
The Board generally meets five times a year and additionally during the year as the need arises. The frequency and length of meetings and the nature of agenda items depend upon the circumstances. Meetings are generally lengthy, detailed and well attended, and are conducted in an atmosphere which encourages participation and independence.
In addition to regularly scheduled Board and committee meetings, the Directors annually attend a comprehensive three to four-day strategy session. Round table discussion sessions and director briefings are also held throughout the year.
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