10. The president of the corporation shall see that the decisions of the board of directors are carried out, and he is responsible for the administration and direction of the company within the scope of its by-laws, policies and the directives referred to in section 38. He is ex officio the chief executive officer of the corporation and shall devote his full time to his official duties.
The remuneration and the other conditions on which the president holds office are specified in a contract binding between him and the corporation. The contract has effect only if it is ratified by the Government.
1983, c. 40, s. 10; 1986, c. 52, s. 25.