Thought Capital

In a world where flexibility and long-term alignment matter more than ever, the traditional use of Deferred Share Units (DSUs) may be falling short. Julia Hunt and David Crawford from Hugessen Consulting, with insights from Torys LLP, explore an alternative that offers greater flexibility, supports long-term ownership, and reduces corporate liabilities: Direct Taxable Ownership.

Hugessen has completed its annual review of the 2025 TSX60 proxy circulars, and we are pleased to share key findings on executive pay levels, incentive design, Say-on-Pay results, and other governance topics.

This webinar addresses how Boards are navigating modern issues and trends tied to executive compensation, governance, ESG, and Board effectiveness.

Hugessen Consulting is proud to announce the promotion of Ciara Wakita to Partner. Since joining the firm in 2022, Ciara has played a pivotal role in expanding Hugessen’s Board Effectiveness practice, which she co-leads across Canada, the US, and Bermuda. Her promotion reflects the firm’s continued investment in this rapidly growing area of strategic advisory.

Canadian businesses are facing unprecedented uncertainty, driven by shifting trade dynamics, increasing geopolitical turbulence, and broader economic pressures. When it comes to executive compensation, Boards are tasked with navigating this complex environment and making thoughtful decisions that balance accountability to their shareholders with fairness to their management teams. Boards may find themselves questioning the resilience of their organization’s incentive programs and scorecards (many of which were just approved a few months ago) in light of the shifting economic and geopolitical realities.

Navigating U.S. and Global policy developments is becoming increasingly important for Canadian boards. From executive pay frameworks to CEO performance management and board composition, directors must stay ahead of a rapidly shifting geopolitical and economic landscape.

On. Off. On again. Off again. The first 100 plus days of the US presidency have been uncertain, to say the least. This uncertainty, on top of the existing macroeconomic and geopolitical situation, is challenging Boards’ long-term focus in the face of short-term volatility.

Gold hit an all-time high of $3,500 in April 2025, and the bull market is showing no sign of slowing down. This environment presents an opportunity for mining sector HR Committees and management teams to test whether incentive plans are performing as intended throughout the commodity cycle. Below we offer a few incentive design tools that help maintain the integrity of incentive plans.

Family offices come in different shapes and sizes – they can be quite varied in their purpose, and may include functions spanning investment management, accounting / tax planning, philanthropy, and general personal finance advisory for family members. Given the complexity and uniqueness of these organizations, it can be challenging to define “what does success looks like”.

When it comes to proxy disclosure, companies must strike a delicate balance—providing enough detail to build trust and transparency while maintaining a competitive edge.

In Clarity, Candor and Cutting the Clutter: The Philosophy of Proxy Disclosure, Hugessen’s Brian Lees and Owen Stott explore key considerations for shaping a disclosure philosophy that not only meets regulatory requirements but also enhances stakeholder confidence.

Whether you’re crafting executive compensation disclosures for the first time or refining your approach, this article offers valuable insights on how to frame the narrative, align with corporate priorities, and build credibility.  

In 2024, organizations faced unprecedented challenges as the rapid emergence of artificial intelligence and shifting geopolitical landscapes placed significant pressures on Boards, demanding agile adaptation to an ever-more complex business environment. Hugessen’s 2024 Director Pulse Survey builds on the insights of prior years, exploring how Boards are responding to these challenges. The survey examines the implications for incentive design, executive compensation, and overall Board effectiveness, shedding light on strategies for success defined by constant change.