Board Games 2007: The New Realities of Corporate Governance

    Annual Globe and Mail Ranking of Canadian Companies

    TORONTO, Nov. 26 /CNW/ - Today, The Globe and Mail released Board Games
2007, its sixth annual report on corporate governance in which Canadian
companies are assessed for best practices including board independence,
compensation practices, shareholder rights issues, and disclosure.
    Board Games assessed all companies in the benchmark S&P/TSX composite
index and this year gave the top marks to: Manulife Financial,
Gildan Activewear, Canadian National Railway and Toronto Dominion Bank among
corporations; Vermilion Energy Trust, Davis & Henderson Income Trust, and
Canadian REIT among income trusts with internal management; and
Primaris Retail REIT, Fording Canadian Coal Trust, and The Consumers'
Waterheater Income Fund among income trusts with external management.
    The Board Games special report runs in the Report on Business section of
today's Globe and Mail and detailed, interactive content can be found at
    "The world of governance has changed so much in the six years of Board
Games," comments Globe and Mail reporter and governance specialist
Janet McFarland. "Corporations and income trusts have recognized the need for
greater board independence, better compensation practices and far more
transparency. Over the past year in particular, there has been an explosion of
information provided to investors about hot button issues like executive
compensation. It really is a new reality."
    In addition to the rankings, Board Games 2007 includes articles and
commentary on governance issues. The special coverage of governance topics
began in Saturday's paper and continues today and all articles are available
online. Topics include:
    -   How sectors perform in governance practices. Canada's energy and
        mining organizations tend to score lower. Why is that and what does
        it mean?
    -   How Gildan Activewear has climbed up the annual rankings from a score
        of 50 to one of 96 (and second place overall);
    -   Directors who sit on multiple boards and the interconnections they
    -   The aging of directors in Canada, including a backlash against the
        traditional practice of requiring directors to resign at age 70;
    -   The cost implications when an income trust evolves from external to
        internal management teams.

    The Globe and Mail, Canada's national newspaper, is a division of
CTVglobemedia, a dynamic multi-media company, which also owns CTV Inc.,
Canada's number-one private broadcaster.

For further information:

For further information: or to arrange an interview with Janet
McFarland, please contact Niya Nikitova, (416) 969-2654, or

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