The Board has established four committees; Administration, Audit, Compensation and Governance and Nominations. For more information on their respective responsibilities, please see below.
The Administration Committee’s role is to advise the Board on business and financial plans developed by World Gold Council’s management as well as setting and assessing performance objectives. The committee is led by the Chair of the World Gold Council and includes the Vice Chair of World Gold Council and Chairs of the Audit, Compensation and Governance & Nomination Committees.
The Audit Committee assists the Board with responsibilities around financial reporting, systems and controls and processes for identifying, measuring and managing risk.
The Compensation Committee oversees compensation frameworks for World Gold Council employees. No employee plays a part in any discussion about their own remuneration.
The Nominations & Governance Committee is responsible for ensuring that Board governance processes are adhered to and spearheads the nomination process for selecting the Board Chair and Committee members.
Chairs of Board Committees
Neal Froneman, Chief Executive Officer, Sibanye Stillwater
Board Chair and Chair, Administration Committee
Tom Palmer, President and Chief Executive Officer, Newmont
Ammar Al-Joundi, President & CEO, Agnico Eagle Mines
Chair, Nominations & Governance Committee
Shaun Usmar, CEO, Triple Flag Precious Metals
Chair, Audit Committee
Paul Brink, President and CEO, Franco Nevada
Chair, Compensation Committee
For a full list of member companies, click here.
Additionally, the World Gold Council, through its US subsidiaries, operates as the sponsor of gold-backed ETF products including GLD®. Each subsidiary company has its own Board of Directors, comprised of the Chief Executive Officer of the World Gold Council and three independent directors These Boards oversee the legal and regulatory responsibilities of the products.