Customers Board Evaluations


The Board annually evaluates the effective- ness of the Board and its Chairman, its committees and their chairs, individual Directors and the CEO. The Corporate Governance Committee, working with an independent consultant, facilitates the annual feedback process. The Board’s approach to the feedback process is meant to be constructive and to ensure the right programs are in place for continuously improving Directors’ skills and Board functioning and effectiveness.


Recruitment


The Board believes it should be composed of members with a broad spectrum of educational backgrounds and industry expertise. The Corporate Governance Committee, which is charged with recom- mending Director candidates, also strives to promote diversity at the highest level of governance at TD. The Board is committed to demonstrating leadership with respect to its own composition and believes this commitment to diversity is an integral part of TD’s strategy and overall operations in an increasingly global business environment.


An overview of the process for recruiting new Directors and of the competencies the Board considers most relevant to fulfill its many responsibilities can be found on our website.


+ Disclosure of Corporate Governance Practices


Workplace CEO Succession


The appointment of a new CEO is a critical part of any board’s responsibility to oversee an effective transition of leadership. In 2013, TD’s Board completed an effective CEO succession process that will result in continuity of leadership, strategy, culture and values critical to the long-term success of TD. The Board announced that Mr. Bharat B. Masrani would serve as Chief Operating Officer beginning July 1, 2013, and will become Group President and CEO on November 1, 2014.


Environment


Communities


How We Operate Additional Board Committee Activities in 2013


• A review of pension investment strategies and performance for TD’s retirement plans for employees


• A review of compensation for front- line employees in Canada and the United States


• Approved and oversaw the implementa- tion of a new Global Privacy Policy


• Oversaw the effectiveness of the bank’s internal controls


• Approved and oversaw the execution of the Global Anti-Money Laundering strategic priorities


• Reviewed progress made on complaint resolution and approved a new Complaint Handling and Disclosure of Information to Customers Policy


• Approved the bank’s Crisis Management Recovery Plan, which contributes to the effectiveness and sustainability of the bank’s governance, risk and control framework


• Reviewed quarterly enterprise risk dashboards


• Oversaw the further development of a formal emerging risk identification framework


+ More details on the Board’s and its committees’ activities can be found in the 2014 Proxy Circular.


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2013 Awards


TD won the Chartered Professional Accountants of Canada Award of Excellence for Corporate Governance Disclosure.


TD received eight awards from IR Magazine, including best corporate governance, best financial reporting, best investment community meetings and the Grand Prix for best overall IR in the large cap category.


TD 2013 Corporate Responsibility Report


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