3.3. The chairman of the board of directors and the president and chief executive officer are appointed by the Government for terms of not more than five years. The other members of the board are appointed for terms of not more than three years.
The chairman of the board must qualify as an independent director.
At the end of their terms, the members of the board shall remain in office until they are replaced or reappointed.
The terms of the board members are renewable. However, members other than the president and chief executive officer may not be reappointed more than three times, whether the terms are consecutive or not.
1986, c. 89, s. 3; 2011, c. 30, s. 5; 2018, c. 122018, c. 12, s. 41; 2022, c. 192022, c. 19, s. 2581.