2005 Annual Report – "Thriving" - Royal Canadian Mint

Over the past few years, numerous studies regarding governance structures and processes have
been undertaken. The results have been a strengthening of structures and processes, which
in turn have led to an increase in involvement and accountability for Boards of Directors.
This enhanced role and increased level of responsibility requires a greater commitment of
time and energy by Board members.
In the coming months, the Board and management will work together on continued refinements
and improvements to governance practices. The Board will build on the thorough
work completed in recent years by the Strategic Planning, Audit, Human Resources,
Governance, and Nominating Committees and will continue to provide appropriate
governance and leadership.
Specifically, we will review the five-year Corporate Plan, including the models for all lines
of business, and review communications plans to ensure they include open, timely and
effective communications with our employees, customers and stakeholders. We will build
on the risk identification process completed in 2005, ensuring that risk management plans
are included in all business plans.
The Mint faces some significant challenges ahead, including a highly competitive environment
and the impact of virtual payment technologies on its core business. But challenges
present opportunities. By leveraging our tremendous assets—our talented people, recognized
brand, world-leading facilities, business acumen, innovative technologies and market
presence—I am confident we can generate further profitable growth.
The Board of Directors will work actively to encourage, promote and support the Mint’s
experienced, committed management team in the pursuit of that objective. With a complement
of new and experienced directors, we look forward with confidence and enthusiasm.
Max Lewis
Chairperson, Board of Directors
Royal Canadian Mint
Bravery and self-sacrifice define Canada's
heroes of the past, present and future. 2005 marked
the Year of the Veteran, and the Mint paid
tribute to our veterans, both young and old,
with a special 25-cent circulation coin in October.
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