Principle #2: Corporate Culture
Governance is a function of corporate culture. Integrity has to be embedded in the culture. Contrary to popular belief, it is not regulatory compliance that will protect Unitholders, but rather the embedded integrity of the Board, Management and employees.
The corporate culture must also embrace comprehensive disclosure practices. This means full, true and plain disclosure that is also timely.
Principle #3: Alignment of Interests
Alignment is achieved through the ownership of CREIT units. Each of our Board members is required to make a pre-defined investment in CREIT units while the President and Chief Executive Officer has a much larger ownership requirement.
As well, it is significant that approximately 90% of CREIT employees are Unitholders.