Agnico-Eagle Mines Limited Annual Report 2007
2007 Highlights
Operations At-a-Glance
Letter to Shareholders
Growth Strategy
AEM in Canada
AEM in Finland
AEM in Mexico
Corporate Responsibility
Corporate Governance
Form 20-F (PDF)
Shareholder Information
Why Invest?
  Corporate Governance  
     
 
Agnico-Eagle strives to earn and retain the trust of shareholders through a steadfast commitment to sound and effective corporate governance. Our governance practices reflect the structure and processes we believe are necessary to improve company performance and enhance shareholder value. As governance standards change, and our company grows, these practices are assessed and modified as needed.
  
     
  The Board of Directors is ultimately responsible for overseeing the management of the business and affairs of the company and, in doing so, is required to act in the best interest of the company. The Board generally discharges its responsibilities either directly or through the four committees outlined below.

The Corporate Governance Committee advises and makes recommendations to the Board on corporate governance matters, the effectiveness of the Board and its committees, the contributions of individual directors, and the identification and selection of director nominees.

The Audit Committee assists the Board in its oversight responsibilities with respect to, among other things, the integrity of the company’s financial statements, compliance with legal and regulatory requirements, external auditor qualifications and independence, and performance of the company’s internal and external audit functions.

The Compensation Committee advises and makes recommendations to the Board on company strategy, policies and programs for compensating and developing senior management and directors.

All three of the above Committees are composed entirely of outside directors who are unrelated to, and independent from, the company.

The Health, Safety and Environment (HSE) Committee, comprised of a majority of independant directors, advises and makes recommendations to the Board with respect to monitoring and reviewing HSE policies, principles, practices and processes; HSE performance; and regulatory issues relating to health, safety and the environment.

The charter for each of these committees is posted on our corporate website for easy access by shareholders and the general public. Other key components of the company’s governance structures and processes are outlined below.

Director Independence
The Board of Directors consists of nine directors. All but two of the directors are independent of management and all are free from any interest or business that could materially interfere with their ability to act in the company’s best interest.

Code of Ethics
Agnico-Eagle has adopted a Code of Business Conduct and Ethics that is applicable to all directors, officers and employees. The Code embodies the commitment of Agnico-Eagle and its subsidiaries to conduct their business in accordance with all applicable laws, rules and regulations, and the highest ethical standards. The Code is posted on our corporate website.

In conjunction with the Code, Agnico-Eagle has established a toll-free compliance hotline to allow for anonymous reporting of any suspected Code violations, including concerns regarding accounting, internal accounting controls or other auditing matters. 		 
     
  board of directors  
     
 
James D. Nasso     James D. Nasso, Chairman of the Board1, 3, 4
(Director since 1986)

Mr. Nasso is the retired founder and President of Unilac Limited, a manufacturer of infant formula, a position he held for 35 years. He is a graduate of St. Francis Xavier University (B.Comm.).
     
Leanne M. Baker   Leanne M. Baker1, 2
(Director since 2003)

Dr. Baker is a consultant to companies in the mining and financial services industries. Previously, she was employed by Salomon Smith Barney, where she was one of the top-ranked U.S. mining analysts. Dr. Baker is a graduate of the Colorado School of Mines (M.S. and Ph.D. in mineral economics).
     
Douglas R. Beaumont
   Douglas R. Beaumont,2, 3
(Director since 1997)

Mr. Beaumont, now retired, is a former Senior Vice-President, Process Technology with SNC Lavalin. Prior to that, he was Executive Vice-President of Kilborn Engineering & Construction. Mr. Beaumont is a graduate of Queen’s University (B.Sc.).
     
Sean Boyd   Sean Boyd
(Director since 1998)

Mr. Boyd is Vice-Chairman and CEO of Agnico-Eagle Mines Limited and has been with the company since 1985. He was appointed CEO in 1998 and became Vice-Chairman in 2005. Prior to that, Mr. Boyd held various senior management positions in the company, most recently as President and CEO. Mr. Boyd is a graduate of the University of Toronto (B.Comm.).
     
Bernard Kraft   Bernard Kraft1, 3
(Director since 1992)

Mr. Kraft recently retired as a senior partner of Kraft, Berger, Grill, Schwartz, Cohen & March, Chartered Accountants and is a consultant to that firm, and a principal in Kraft Yabrov Valuations Inc. Mr. Kraft is a member of the Canadian Institute of Chartered Business Valuators, the Association of Certified Fraud Examiners, and the American Society of Appraisers.
     
Mel Leiderman   Mel Leiderman1, 2
(Director since 2003)

Mr. Leiderman is the managing partner of the Toronto accounting firm Lipton, Wiseman, Altbaum & Partners and is a graduate of the University of Windsor (B.A.).
     
Eberhard Scherkus   Eberhard Scherkus4
(Director since 2005)

Mr. Scherkus is President and Chief Operating Officer of Agnico-Eagle Mines Limited and has been with the company since 1985. He was appointed COO in 1998 and as President in 2005. Prior to that, Mr. Scherkus held various senior management positions, most recently as Executive Vice-President and COO, and was manager of the company’s LaRonde Division. Mr. Scherkus is a graduate of McGill University (B.Sc.).

     
Howard Stockford   Howard Stockford2, 4
(Director since 2005)

Mr. Stockford, now retired, is a former Executive Vice-President of Aur Resources Inc., and sits on several mining company boards. He has been involved in the mining business for more than 40 years. He is a graduate of the Royal School of Mines, Imperial College, London University.
     
Pertti Voutilainen   Pertti Voutilainen3, 4
(Director since 2005)

Mr. Voutilainen is a mining industry veteran, most recently the Chairman of the Board of Riddarhyttan Resources AB. Previously, Mr. Voutilainen was Chairman of the Board and CEO for Kansallis Banking Group and President after its merger with Union Bank of Finland. He was also the CEO of Outokumpu Corp., Finland’s largest mining and metals company.

 
 
     
1 Audit Committee  
2 Compensation Committee  
3 Corporate Governance Committee  
4 Health, Safety and Environment Committee